Directions: Use the JMP output to answer questions. Assume that an updated dataset of the real estate data has been released for 2015. 1 Analysis of Variance Sum of Source DF Squares Mean Square F Ratio

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Directions: Use the JMP output to answer questions. Assume that an updated dataset of the real estate data has
been released for 2015.
1 Analysis of Variance
Sum of
Source
DF
Squares Mean Square
F Ratio
Model
2
158974.08
79487.0
21.2682
Error
7
26161.52
3737.4 Prob > F
C. Total
9.
185135.60
0.0011*
Parameter Estimates
Term
Estimate Std Error t Ratio Prob> |t|
Intercept
-86.15055 51.85546
-1.66
0.1406
Condition 14.394592
13.51309
1.07
0.3221
Size
8.3542777
2.464496
3.39
0.0116*
1. What is the least squares equation for this data?
2. Calculate the coefficient of determination.
3. Construct and Interpret a 90% confidence interval for the standard deviation of selling price for homes
of any fixed size and condition.
Transcribed Image Text:Directions: Use the JMP output to answer questions. Assume that an updated dataset of the real estate data has been released for 2015. 1 Analysis of Variance Sum of Source DF Squares Mean Square F Ratio Model 2 158974.08 79487.0 21.2682 Error 7 26161.52 3737.4 Prob > F C. Total 9. 185135.60 0.0011* Parameter Estimates Term Estimate Std Error t Ratio Prob> |t| Intercept -86.15055 51.85546 -1.66 0.1406 Condition 14.394592 13.51309 1.07 0.3221 Size 8.3542777 2.464496 3.39 0.0116* 1. What is the least squares equation for this data? 2. Calculate the coefficient of determination. 3. Construct and Interpret a 90% confidence interval for the standard deviation of selling price for homes of any fixed size and condition.
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