What is the coefficient of determination, Basic Statistics

Assignment Help:

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.


Related Discussions:- What is the coefficient of determination

Assignment , assume that your group is incorporating a business organizatio...

assume that your group is incorporating a business organization. you are required to present a detailed structure, business environment and organizational structure of the entity.

Historigram, what is historigram in statistics please give the problems and...

what is historigram in statistics please give the problems and there solution in statistics as soon as possible

Draw a gantt chart, Consider the Kristen Cookie Company case. From the n...

Consider the Kristen Cookie Company case. From the note: Wash&Mix: 6 mins per order (max 3 dozen) Dish up: 2 mins per dozen Set up timer: 1 min per dozen Bake: 9 mins per dozen

Ms 4, 2. From the following cost, production and sales data of Decors Motor...

2. From the following cost, production and sales data of Decors Motor Ltd., prepare comparative income statement for three years under (i) absorption costing method, and (ii) margi

Probabilities, What is the probability of selecting exactly one red and one...

What is the probability of selecting exactly one red and one blue fish (Total red is .479 and total blue is .521 and total of both is 1.000) I cannot figure out the formula or how

Define Agency solutions , Define Agency solutions Every condition agency,...

Define Agency solutions Every condition agency, office, board, commission, department, condition organization, or condition organization of degree, which includes all condition u

Determine the hypothesised value, Read Confidence Intervals and P-values in...

Read Confidence Intervals and P-values in Section C of your Lecture Workbook or on Cecil under Assignment Resources. Consider a study to determine ways the response rate in surveys

Does the claim represent the null hypothesis or the alterna., A scientist c...

A scientist claims that the mean incubation period for the eggs of a species of birds is more than 46 days.

IFRS 9, The company acquired 50000 8% preferencd shares (with a par value o...

The company acquired 50000 8% preferencd shares (with a par value of R4 each) in cross limited on 30 june 2006 for R180000.transaction costs at the acquisition date amounted to R12

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd