Reference no: EM131107882
Jenny Wilson is the owner and broker of a real estate company in Montgomery, Alabama. This company is known as Jenny Wilson Realty. for her real estate company, Ms. Wilson wants to develop a regression model to explain the selling price (SP) for a house based on the size of the house measured in terms of the square footage of the house (SF), and the age of the house (AGE). For her analysis, Ms. Wilson gathers the data shown below. Selling Price (SP) in $ Square Footage (SF) Age 95,000 1,926 30 119,000 2,069 40 124,800 1,720 30 135,000 1,396 15 142,800 1,706 32 145,000 1,847 38 159,000 1,950 27 165,000 2,323 30 182,000 2,285 26 183,000 3,752 35 200,000 2,300 18 211,000 2,525 17 215,000 3,800 40 219, 000 1,740 12 1. Report the results that are generated when this technique/method is applied to the data above. Please use the regression analysis feature in the results. 6. Interpret your results. 7. What test statistic is computed to determine if the estimated regression coefficient for an independent variable in a regression model is statistically significant? 8. What test statistic is computed to determine the statistical significance of the regression model? 9. What statistic is computed to determine the percent of the variation in the dependent variable that is explained by all of the independent variable in the model? 10. What proportion of the total variation in the dependent variable is explained by the independent variable in the model?
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: Jenny Wilson is the owner and broker of a real estate company in Montgomery, Alabama. This company is known as Jenny Wilson Realty. Ms. Wilson wants to develop a regression model to explain the selling price (SP) for a house based on the size of the ..
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