The following results were obtained from a regresSion of n= 14 housing prices (in dollars) on median family income, size of house, and size of lot: Mean Sum of df square squares 4234 Regression SS: Residual SS: 3487 Total SS: Coefficient (b) Standard error(sb) VIF 1.57 0.34 1.3 Median family income 11.2 2.9 Size of house (sq. ft) 23.4 Size of lot (sq. ft) -9.5 7.1 11.3 Constant 40,000 1000 (a) Fill in the blanks. (b) What is the value of r? (c) What is the standard error of the estimate? (d) Test the null hypothesis that R² = 0 by comparing the F-statistic from the table with its critical value. %3D (e) Are the coefficients in the direction you would hypothesize? If not, which coefficients are opposite in sign from what you would expect? (f) Find the t-statistics associated with each coefficient, and test the null hypotheses that the coefficients are equal to zero. Use a = to give the critical value of t. 0.05, and be sure (g) What do you conclude from the variance inflation factors (VIFS)? What (if any)

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What is the change in odds, for
7 The following results were obtained from a regression of n = 14 housing prices (in
dollars) on median family income, size of house, and size of lot:
%3D
Mean
Sum of
df
square
squares
4234
Regression SS:
Residual SS:
3487
Total SS:
Coefficient (b)
Standard error(sb)
VIF
Median family
1.57
0.34
1.3
income
Size of house (sq. ft)
23.4
11.2
2.9
Size of lot (sq. ft)
-9.5
7.1
11.3
Constant
40,000
1000
(a) Fill in the blanks.
(b) What is the value of 2?
(c) What is the standard error of the estimate?
(d) Test the null hypothesis that R = 0 by comparing the F-statistic from the table
with its critical value.
(e) Are the coefficients in the direction you would hypothesize?
If not, which coefficients are opposite in sign from what you would expect?
(f) Find the t-statistics associated with each coefficient, and test the null
hypotheses that the coefficients are equal to zero. Use a = 0.05, and be sure
to give the critical value of t.
(g) What do you conclude from the variance inflation factors (VIFS)? What (if any)
modifications would you recommend in light of the VIFS?
(h) What is the predicted sales price of a house that is 1500 square feet, on a
lot 60'x100', and in a neighborhood where the median family income is
$40,000?
F.
3 一二
Transcribed Image Text:What is the change in odds, for 7 The following results were obtained from a regression of n = 14 housing prices (in dollars) on median family income, size of house, and size of lot: %3D Mean Sum of df square squares 4234 Regression SS: Residual SS: 3487 Total SS: Coefficient (b) Standard error(sb) VIF Median family 1.57 0.34 1.3 income Size of house (sq. ft) 23.4 11.2 2.9 Size of lot (sq. ft) -9.5 7.1 11.3 Constant 40,000 1000 (a) Fill in the blanks. (b) What is the value of 2? (c) What is the standard error of the estimate? (d) Test the null hypothesis that R = 0 by comparing the F-statistic from the table with its critical value. (e) Are the coefficients in the direction you would hypothesize? If not, which coefficients are opposite in sign from what you would expect? (f) Find the t-statistics associated with each coefficient, and test the null hypotheses that the coefficients are equal to zero. Use a = 0.05, and be sure to give the critical value of t. (g) What do you conclude from the variance inflation factors (VIFS)? What (if any) modifications would you recommend in light of the VIFS? (h) What is the predicted sales price of a house that is 1500 square feet, on a lot 60'x100', and in a neighborhood where the median family income is $40,000? F. 3 一二
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