What is the coefficient of determination, Basic Statistics

The data in the table below are the results of a random sample of recent home sales in your neighborhood that your boss has asked you to use to estimate the relationship between the selling price of the house and the number of square feet in it.

Observation Number

Sale Price     (in thousands)

Square Feet (in hundreds)

1

280

20.3

2

328

30.0

3

281

21.5

4

293

25.4

5

263

14.5

6

291

22.3

7

320

31.0

8

256

37.2

9

311

27.1

10

352

30.2

11

288

21.2

12

356

37.2

13

293

23.0

14

272

26.7

15

308

26.5


a. First plot the data, with number of square feet on the "X" axis and the price of the house on the "Y" axis. Explain why housing price is the dependent variable and square feet is the independent variable.

b. What is the estimated regression line?  What does the coefficient of square feet represent?

c. Is the sample size large enough for the estimated coefficient of square feet to be statistically significant at the 5% level?

d. What is the coefficient of determination (R2)?

e. Perform an F-test, again at the 5% level.

Posted Date: 4/6/2013 1:41:29 AM | Location : United States







Related Discussions:- What is the coefficient of determination, Assignment Help, Ask Question on What is the coefficient of determination, Get Answer, Expert's Help, What is the coefficient of determination Discussions

Write discussion on What is the coefficient of determination
Your posts are moderated
Related Questions
What is Art collection A personal perform of art or number of products of unique graphics such as artwork, statues, craftwork or other elements generally determined as a perform

I would just like the formula to find the y-axis of a centroid.

Dear expert, Assume that we have a multivariate unobserved component model (or SUTSE, seemingly unrelated time series equation model) in STATE SPACE form, that is: Y(t) = H A(t) +

normal distribution and the sampling distributions of sample proportions and sample means, but without confidence interval

Definition of capitalization is termed or shown as a process of recording & classifying the expenditure on assets in a balance sheet. Can you explain me this term more.

1. Compute the z scores for the following raw scores where   = 78 and the standard deviation = 4. a. 72 b. 82 c. 78 d. 87 e. 71

Expertsmind.com offering financial accounting help,The Financial Accounting vs. The Book-keeping issues itself with the producing (correctly and in a set of books) of those dealin


if "profit" maximisation is biased towards maximising the interest of only one stakeholder group, would you expect that over time there will be less emphasis on profit and more emp

There are two firms competing in quantity. Firm 1 and 2 set their quantities supplied, q1 and q2, respectively. The production costs are zero. The market price is given by