What the determinants of the price of a house? A researcher in Indiana thinks that the squared footage (sqft), the number of bedrooms (bed) and bathrooms (bath) along with the acreage are important factors. Date from 50 home sales in Indiana is provided. Conduct a linear regression of analysis of Price (in thousands) as a function of square footage, Bedrooms, Bathrooms and Acreage. Make sure to:
1. Interpret the R-square
2. Test for Joint Significance
1Price sqft bed 2 399.9 5.026 3 375 3.2 4 372 3.22 5 370 4.927 6 325 3.904 7 325 2.644 8 319.5 5.318 9 312.9 3.144 10 299.9 2.8 11 294.9 3.804 12 269 3.312 13 250 3.373 14 249.9 3.46 15 244.994 3.195 16 244.9 2.914 17 239.9 2.881 18 234.9 1.772 19 234 2.248 20 229.9 3.12 21 219.9 2.942 22 209.9 3.332 23 209.85 3.407 24 206.9 2.092 25 200 3.859 26 194.9 3.326 27 184.9 1.874 28 179.9 1.892 29 179.5 2.5 30 165 2.435 31 159.9 2.714 32 159.9 1.85 33 155 3.068 34 154.9 2.484 35 152 1.529 36 149.9 2.876 37 148.5 2.211 38 146.9 1.571 39 145.5 1.503 40 144.9 1.656 41 144.9 1.521 42 139.9 1.315 43 137.9 1.706 44 132.9 2.121 45 129.9 1.306 46 129.736 1.402 47 125 1.325 48 119.5 1.234 49 110.387 1.292 50 106.699 1.36 51 102.9 1.938
bath acreage 4 4.5 0.3 4 3 5 5 3 5 4 4 0.3 3 3 1 3 2.5 5 3 2.5 2.5 4 2.5 0.3 4 3 5 4 3.5 0.2 5 3 1 5 3.5 0.2 2 2.5 0.6 4 2.5 0.2 3 3 0.3 4 5 0.3 3 2 3.6 3 2.5 0.3 5 2.5 0.2 4 2.5 0.2 4 2.5 0.2 3 2.5 0.3 3 2 0.3 4 2 0.2 4 2.5 0.1 3 2 0.5 3 1.5 0.7 4 2.5 0.5 4 2.5 0.4 3 2.5 0.2 3 2.5 0.5 4 3.5 0.2 4 2.5 0.3 4 2 0.4 4 2.5 0.2 4 2.5 0.1 3 2 0.2 4 2 0.5 3 2 0.5 3 2 0.6 3 2 0.2 3 2 0.3 4 2.5 0.1 3 2 0.5 3 2 0.5 3 2 0.3 3 2 0.2 3 1 0.2 3 1.5 0.1 3 1 0.1