Following are the regression results
for a database of home market values in a locality with market
value of the house (in dollars) as the dependent variable y and the
age of the house (in years) and the size of the house (in square
feet) as the two independent x variables.
Following Are The Regression Results For A Database Of Home Market Values In A Locality With Market Value Of The House 1 (72.97 KiB) Viewed 52 times
SUMMARY OUTPUT Regression Statistics Multiple R 0.8959898 R Square 0.8027977 Adjusted R Square 0.7904726 Standard Error 4565.0578 Observations 35 ANOVA df Regression Residual Total 2 32 34 SS MS F Significance F 2714793618 1.36E+09 65.13498 5.23106E-12 666872095.9 20839753 3381665714 Intercept House Age Coefficients Standard Error t Stat P-value Lower 95% Jpper 95% ower 95.0% Upper 95.0% 28688.242 10062.03045 2.851138 0.007566 8192.556604 49183.93 8192.5566 49183.92726 - 154.9937 429.5986406 -0.36079 0.720629 -1030.0575 720.0701 -1030.0575 720.0700889 39.446367 4.387722281 8.990169 2.87E-10 30.50886886 48.38386 30.5088689 48.38386449 Square Feet (a) State the multiple regression equation. (b) Interpret the meaning of the slopes bị and b2 for this problem. (c) Interpret the meaning of Y-intercept bo for this problem. (d) Predict the average market value of a home with house age equal to 30 years and house size equal to 1600 square feet assuming that these numbers are within the data range. (e) Determine the coefficient of multiple determination and interpret its meaning. (f) Determine the adjusted Radi and interpret its meaning.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!