A dataset records, for a number of houses sold in a particular region the size (total floor space in square meters), num
Posted: Sun Sep 05, 2021 6:33 am
A dataset records, for a number of houses sold in a particular
region the size (total floor space in square
meters), number of bedrooms,
style (apartment, detached, semi-detached or
terrace), new (yes or no),
conditionSeller (a subjective measure 1, 2 or 3 of
house condition) as assessed by the seller and independently by the
buyer ( conditionBuyer), the
initial asking price for the house, final
sale price and the time the house
took to sell.
A simple regression model is fitted, with time
regressed on sale with a = 19.2 ,b = 4.7 r =
0.96
a.
The model predicts a value for time of 4.7 when
sale is 0
b.
Predicting a value for time using a value for
sale outside the observed range for
sale constitutes extrapolation.
c.
If there is statistically significant linear relationship
between time and sale then
sale causes time
d.
92.2% of the variation in sale accounted for by
variation in time
e.
The model predicts a value for sale of 19.2
when time is 0
region the size (total floor space in square
meters), number of bedrooms,
style (apartment, detached, semi-detached or
terrace), new (yes or no),
conditionSeller (a subjective measure 1, 2 or 3 of
house condition) as assessed by the seller and independently by the
buyer ( conditionBuyer), the
initial asking price for the house, final
sale price and the time the house
took to sell.
A simple regression model is fitted, with time
regressed on sale with a = 19.2 ,b = 4.7 r =
0.96
a.
The model predicts a value for time of 4.7 when
sale is 0
b.
Predicting a value for time using a value for
sale outside the observed range for
sale constitutes extrapolation.
c.
If there is statistically significant linear relationship
between time and sale then
sale causes time
d.
92.2% of the variation in sale accounted for by
variation in time
e.
The model predicts a value for sale of 19.2
when time is 0