Part 2: Problem-Solving Questions
[Chapter 7] Linear Regression
A realtor wishes to investigate what type of homes would attract residents in a neighborhood. The realtor collected a sample data that contains the following information about some single-family houses recently sold in the neighborhood.
y= price in $1,000 s (PRICE)
x_(1)= size of the house in square feet (SIZE)
x_(2)= age of the house in years (AGE)
x_(3)= number of bedrooms (BEDROOMS)
x_(4)= number of rooms (ROOMS)
The realtor conducted a regression analysis using the following model:
y=eta _(0)+eta _(1)x_(1)+eta _(2)x_(2)+eta _(3)x_(3)+eta _(4)x_(4)+epsi lon
A portion of the regression results from Excel is shown below.
able[[Regression Statistics,],[Multiple R,0.89],[R Square,0.80],[Adjusted R Square,0.77],[Standard Error,13.90],[Observations,40]]
able[[ANOVA,df,SS,MS,F,Significance F],[Regression,4,26466.32,6616.58,34.27,1.18E-11
Question 30 (4 points)
Find the p-value for the test.
O0.1 p-value<0.2 O 0.01 s p-value < 0.025 O p-value < 0.01 O p-value 0.2 O 0.05 p-value < 0.1 0.025 p-value <0.05
Question 31 (4 points)
We
at the given level of significance
reject Ho do not reject Ho
cannot tell whether Ho should be rejected or not; more information is needed
reject Ha
Question 32(4 points)
Based on the sample data,a linear relationship
between PRICE and AGE
cannot tell whether there is a linear relationship; more information is needed
does not exist
ict