Model Summary Rent R R Square Adjusted R Square Std Error Of The Estimate 64 41 41 273 09 Anova Rent Regression 1 (60.61 KiB) Viewed 113 times
Model Summary Rent R R Square Adjusted R Square Std Error Of The Estimate 64 41 41 273 09 Anova Rent Regression 2 (41.66 KiB) Viewed 113 times
Model Summary (Rent) R R Square Adjusted R Square Std. Error of the Estimate .64 .41 .41 273.09 ANOVA (Rent) Regression Residual Total Coefficients (Rent) (Constant) Family Size Income Sum of Squares df 25947092.50 5 36842922.05 494 62790014.55 499 Southwest Northwest Northeast Unstandardized Coefficients B Std. Error 581.45 -13.17 Mean Square 5189418.50 74580.81 .00 356.63 492.94 238.11 47.97 7.85 .00 39.19 45.90 35.56 Sig. 69.58 .000 Standardized Coefficients Beta t Sig. 12.12 .000 -1.68 094 3.58 .000 9.10 .000 10.74 Y = Rent monthly rent payment measured in dollars X1 Family Size: the number of people living in the apartment X2 Income family income measured in dollars = .00 -.06 .17 .44 .60 .000 .29 6.70 .000 Results for a multivariate regression model predicting monthly rent based on several variables are shown above. For your convenience, here are definitions for each variable. X3 Southwest = a dummy variable equal to one if the apartment is in the Southwest region of the United States
X4 = Northwest = a dummy variable equal to one if the apartment is in the Northwest region. X5 = Northeast a dummy variable equal to one if the apartment is in the Northeast region ***The base category is living in the Southeast region" *** (Questions) (a) Using the test statistic method, do a hypothesis test for whether there is a statistically significant relationship between family size and monthly rent. Show all steps to your hypothesis test and use a significance level of 5%. (5 points) (b) Type the value of the y-intercept and explain the meaning of that number. (4 points) (c) Is the following statement TRUE or FALSE? Explain your answer. (5 points) "This regression model fails to control for the effect of living in the Southeast region of the US when estimating monthly rates of rent. "
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!