The following data show the square footage and selling price for 10 houses from Zillow. Size
Posted: Mon May 09, 2022 12:54 pm
The following data show the square footage and selling price for
10 houses from Zillow.
Size
Selling
Price
(1000s sq. ft.).
($1000s)
a. Develop an estimated regression equation that can be used to
predict house price.
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, test statistics, p-value or critical value, and
the conclusion.
c. Compute SST, SSE and coefficient of determination r2.
d. When the square footage increases from 1000s sq. ft. to 2000s
sq. ft., how and how much would the house price change?
10 houses from Zillow.
Size
Selling
Price
(1000s sq. ft.).
($1000s)
a. Develop an estimated regression equation that can be used to
predict house price.
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, test statistics, p-value or critical value, and
the conclusion.
c. Compute SST, SSE and coefficient of determination r2.
d. When the square footage increases from 1000s sq. ft. to 2000s
sq. ft., how and how much would the house price change?