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Use the data in question 7 to examine whether the number of square feet of living space is a good predictor of a house's
Posted: Sun May 08, 2022 9:25 am
by answerhappygod
- Use The Data In Question 7 To Examine Whether The Number Of Square Feet Of Living Space Is A Good Predictor Of A House S 1 (55.91 KiB) Viewed 30 times
- Use The Data In Question 7 To Examine Whether The Number Of Square Feet Of Living Space Is A Good Predictor Of A House S 2 (27.22 KiB) Viewed 30 times
Use the data in question 7 to examine whether the number of square feet of living space is a good predictor of a house's selling price. a. Develop an estimated regression equation that can be used to predict house price. (5') b. Perform a hypothesis test to examine whether size has a significant impact on house price at 5% significance level, using t test. You need to report the hypotheses tests (2'), test statistics (5'), p-value or critical value (5'), and the conclusion (2'). (14' in total) c. Compute SST, SSE and coefficient of determination r2. (6') d. When the square footage increases from 1000s sq. ft. to 2000s sq. ft., how and how much would the house price change? (5')
The following data show the square footage and selling price for 10 houses from Zillow. Size (1000s sq. ft.). Selling Price ($1000s) 117.5 1.26 3.02 1.99 0.91 1.87 2.63 2.6 299.9 177 45.6 129.9 274.9 259.9 177 175 189.9 2.27 2.3 2.08