Y = Rent monthly rent payment measured in dollars Family Size: the number of people living in the apartment X2 Income =

[answerhappygod]

Y Rent Monthly Rent Payment Measured In Dollars Family Size The Number Of People Living In The Apartment X2 Income 1 (33.47 KiB) Viewed 129 times

Y Rent Monthly Rent Payment Measured In Dollars Family Size The Number Of People Living In The Apartment X2 Income 2 (64.56 KiB) Viewed 129 times

Y = Rent monthly rent payment measured in dollars Family Size: the number of people living in the apartment X2 Income = family income measured in dollars = X1 = = 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" ***
Model Summary (Rent) R .64 ANOVA (Rent) R Square Adjusted R Square Std. Error of the Estimate .41 .41 273.09 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 Sig. Mean Square F 5189418.50 69.58 .000 74580.81 .00 356.63 492.94 238.11 47.97 7.85 .00 39.19 45.90 35.56 Standardized Coefficients Beta t Sig. .00 .000 -.06 .094 .17 .000 .44 .000 .60 10.74 .000 .29 6.70 .000 12.12 -1.68 3.58 9.10 Questions: (a) Suppose you added an additional independent variable to the regression model. If the new variable was the median value of a home in the surrounding community, do you think that adding this variable would cause the R-square to increase, decrease, or remain constant? Explain. (4 points) (b) Again, suppose you added an additional independent variable to the regression model. If the new variable was the number of flavors at the local ice parlor (or something seemingly unrelated to monthly rent), do you think that adding this variable would cause the R-square to increase, decrease, or remain constant? Explain. (4) points)