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[answered] 1) A real estate agent wants to make a regression equation


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Attached is a question regarding regressions and F Tests. ?Could I get help in calculating answers for this (if you could show me how calculations are done to get answers it will help me with future questions)? ?Thank you!




1) A real estate agent wants to make a regression equation to help her predict the price of houses in a

 

specific neighborhood. She uses the number of bedrooms, the square footage and the age of the

 

houses in her initial collection. Using the graphs and outputs, answer the following questions:

 

a) What are the independent and dependent variables? b) Discuss the feasible linearity by using the scatterplots below. The output is on the next page ? please use it to answer the rest of the questions. Predictor

 

Constant

 

sq footage

 

age

 

numb rooms Coef

 

-0.52

 

0.05646

 

-0.3804

 

6.842 S = 21.4788 SE Coef

 

32.91

 

0.01382

 

0.3739

 

3.148 R-Sq = 71.2% T

 

-0.02

 

4.09

 

-1.02

 

2.17 P

 

0.987

 

0.001

 

0.322

 

0.043 R-Sq(adj) = 66.6% Analysis of Variance

 

Source

 

Regression

 

Residual Error

 

Total DF

 

3

 

19

 

22 SS

 

21640.9

 

8765.4

 

30406.3 MS

 

7213.6

 

461.3 F

 

15.64 P

 

0.000 c) Discuss the coefficient of determination and the correlation. Use the proper ones for multiple

 

regression and answer in sentences. Aka R^2adj and Radj. d) Run the F test and tell us if further analysis gives any information. (Set up Ho and Ha and discuss). e) If you rejected the null from the F test, then looking at the output, what variables do you think are

 

important to the model?

 

(Give this a try ? we will discuss it in class) f) Predict the price of a house that is 30 years old, 10 rooms and 2500 square feet.

 


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