The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a small city. Perform a multiple regression analysis to predict appraised value based on land area of the property (X4) and age, in years, (X2) and determine the VIF for each independent variable in the model. Is there reason to suspect the existence of collinearity? E Click the icon to view the data table. Determine the VIF for each independent variable in the model. VIF, =O VIF2 =D (Round to three decimal places as needed.) Appraised Land Area (аcres) 0.2974 0.1567 0.6107 0.3828 0.2298 0.1548 0.5018 0.3649 0.1172 0.4083 0.2885 0.5581 0.0984 Age Value 667.5 43 555.8 314.2 36 19 320.1 91 321.2 677.2 706.6 21 25 50 344.7 95 339.2 622.1 409.7 38 17 98 688.9 63 326.8 6 757.4 0.0819 71 0.4382 0.6719 0.3956 0.4178 0.2879 0.4865 0.4497 0.3662 0.1017 0.3915 0.2421 0.2365 0.4534 0.5747 0.6001 0.4602 345.9 69 486.4 768.5 624.2 493.7 384.6 286.5 765.8 786.2 308.6 695.6 518.6 796.9 611.8 762.9 306.1 23

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
icon
Concept explainers
Question
796.9
The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a
small city. Perform a multiple regression analysis to predict appraised value based on land area of the property (X,) and age, in years, (X2) and determine the VIF
for each independent variable in the model. Is there reason to suspect the existence of collinearity?
E Click the icon to view the data table.
Determine the VIF for each independent variable in the model.
VIF, =D VIF, = I
(Round to three decimal places as needed.)
Appraised Land Area
(acres)
0.2974
0.1567
0.6107
0.3828
0.2298
0.1548
Age
Value
667,5
43
555.8
314.2
36
19
320.1
91
321.2
677.2
706.6
0.5018
344.7
0.3649
0.1172
0.4083
0.2885
0.5581
339.2
622.1
409.
.7
98
688.9
63
326
.8
0.0984
6
757.4
0.0819
71
345.9
0.4382
69
486.4
0.6719
21
768.5
0.3956
98
624.2
0.4178
98
493.7
0.2879
77
85
99
384.6
0.4865
286.5
0.4497
765.8
0.3662
92
786.2
0.1017
0.3915
0.2421
0.2365
308.6
37
695.6
98
518.6
40
0.4534
45
611.8
0.5747
31
762.9
0.6001
84
306.1
0.4602
23
Transcribed Image Text:796.9 The data in the accompanying table include the appraised value, land area of the property in acres, and age, in years, for a small sample of 30 single-family homes in a small city. Perform a multiple regression analysis to predict appraised value based on land area of the property (X,) and age, in years, (X2) and determine the VIF for each independent variable in the model. Is there reason to suspect the existence of collinearity? E Click the icon to view the data table. Determine the VIF for each independent variable in the model. VIF, =D VIF, = I (Round to three decimal places as needed.) Appraised Land Area (acres) 0.2974 0.1567 0.6107 0.3828 0.2298 0.1548 Age Value 667,5 43 555.8 314.2 36 19 320.1 91 321.2 677.2 706.6 0.5018 344.7 0.3649 0.1172 0.4083 0.2885 0.5581 339.2 622.1 409. .7 98 688.9 63 326 .8 0.0984 6 757.4 0.0819 71 345.9 0.4382 69 486.4 0.6719 21 768.5 0.3956 98 624.2 0.4178 98 493.7 0.2879 77 85 99 384.6 0.4865 286.5 0.4497 765.8 0.3662 92 786.2 0.1017 0.3915 0.2421 0.2365 308.6 37 695.6 98 518.6 40 0.4534 45 611.8 0.5747 31 762.9 0.6001 84 306.1 0.4602 23
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Correlation, Regression, and Association
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman