Exercise 15 22 Static A Realtor Examines The Factors That Influence The Price Of A House In A Suburb Outside Of Boston 1 (46.62 KiB) Viewed 21 times
Exercise 15-22 Static A realtor examines the factors that influence the price of a house in a suburb outside of Boston, Massachusetts. He collects data on 36 recent house sales (Price) and notes each house's square footage (Soft) as well as its number of bedrooms (Beds) and number of bathrooms (Baths). Click here for the Excel Data File a. Estimate: Price = le+ $59ft + 0,Beds + 6zBaths + E. (Round your answers to 2 decimal places.) + - Predicted Price 153,348.30 + 95.88 Sqft + 556.89 Beds + 92,022.91 Baths b-1. Choose the appropriate hypotheses to test whether the explanatory variables are jointly significant in explaining price. Mg: 61 = 32 = 83 = 8; HA: At least one 8; + 0 Mg: 61 = 82 = 83 = 8; HA: At least one 8; <3 Mg: 84 = 52 = 83 = 8; HA: At least one 8; > 0 b-2 Calculate the value of the test statistic. (Round your answer to 3 decimal places.) Test statistic b-3. At the 5% significance level, what is the conclusion to the test? Are the explanatory variables jointly significant in explaining Price? O Reject Mg: the explanatory varlables are jointly significant in explaining Price. O Reject Mg: the explanatory variables are not jointly significant in explaining Price. Do not reject He; the explanatory variables are jointly significant in explaining Price. Do not reject Hy; the explanatory variables are not jointly significant in explaining Price. C-1. Choose the appropriate hypotheses to test whether each of the explanatory variables are Individually significant in explaining Price. OMO: 6 О на: 05 О На ві = 0; HA: ej > = 0; HA: Ojc 1 = 0; HA: 0; + C-2 At the 5% significance level, are all explanatory variables Individually significant in explaining Price? Significant in Explaining Price Explanatory Variables Soft Beds Baths