You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your b

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You Are A New Hire At Laurel Woods Real Estate Which Specializes In Selling Foreclosed Homes Via Public Auction Your B 1 (29.73 KiB) Viewed 53 times

You Are A New Hire At Laurel Woods Real Estate Which Specializes In Selling Foreclosed Homes Via Public Auction Your B 2 (15.02 KiB) Viewed 53 times

You Are A New Hire At Laurel Woods Real Estate Which Specializes In Selling Foreclosed Homes Via Public Auction Your B 3 (20.16 KiB) Viewed 53 times

You Are A New Hire At Laurel Woods Real Estate Which Specializes In Selling Foreclosed Homes Via Public Auction Your B 4 (5.65 KiB) Viewed 53 times

You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales to estimate what the actual auction price will be. Auction Price $74,700 51,150 44,700 16,600 Loan $ 85,611 114,848 111,456 113,240 97,600 104,400 113,800 116,400 100,000 92,800 105,200 105,900 94,700 105,600 104,100 85,700 113,600 119,400 90,600 104,500 Monthly Payments $ 999.83 932.18 747.28 1,076.05 836.53 983.27 1,075.54 1,087.16 900.01 683.11 915.24 905.67 810.70 891.33 864.38 1,074.73 871.61 1,021.23 836.46 1,056.37 Payments Made 1 37 3 4 22 23 17 35 33 36 34 38 25 20 7 30 40,700 63,100 72,600 72,300 58,100 37,100 52,600 51,900 43,200 52,600 42,700 22,200 24 77,000 58 3 3 22 69,000 35,600 63,000
Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant. Click here for the Excel Data File Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Auction Price = Loan + Monthly Payment + Payments Made + [ XX₃
Complete the following table. (Leave no cells blank - be certain to enter "O" wherever required. Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Coefficient SE Coefficient p-value Predictor Constant Loan Monthly Payment Payments Made XqX3 Compute the t-value corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) t-value
Do a test of the null hypothesis to check if the interaction is significant. (Use the 0.05 significance level.) This is so we conclude that there is