A real estate agency collects the data in the following table concerning y = sales price of a house (in thousands of dollars) x1 = home size (in hundreds of square feet) x2 = rating (an overall "niceness rating" for the house expressed on a scale from 1 [worst] to 10 [best], and provided by the real estate agency) Sales Price, y (x $1000) 180 98.1 173.1 136.5 141 165.9 193.5 127.8 163.5 172.5 Home Size, x₁ (x 100 ft²) BERIKANERS Modell: y Bo + B₁x₁ + B₂x₂ + € Model2: y Bo + B₁x₁ + B₂X₂ + B3x² + € 23 11 20 17 15 21 24 13 19 25 Rating, * SNamotora X₂ (b) Interpret the regression coefficients (c) Test significance of each individual coefficients. 5 2 9 3 8 4 7 6 7 The agency wishes to develop a regression model that can be used to predict the sales prices of future houses it will list. 2 Use software of your choice to fit the 2 following models. Then answer the same questions (a-e) for both models. (a) Discuss why scatter plot of y vs x₁ and x₂ indicate that this model might be reasonable. (d) Test overall regression model (e) For an individual house with size=2000 Square feet and rating-8 find point estimation, 95% C.I. and 95% P.I.
A real estate agency collects the data in the following table concerning y = sales price of a house (in thousands of dollars) x1 = home size (in hundreds of square feet) x2 = rating (an overall "niceness rating" for the house expressed on a scale from 1 [worst] to 10 [best], and provided by the real estate agency) Sales Price, y (x $1000) 180 98.1 173.1 136.5 141 165.9 193.5 127.8 163.5 172.5 Home Size, x₁ (x 100 ft²) BERIKANERS Modell: y Bo + B₁x₁ + B₂x₂ + € Model2: y Bo + B₁x₁ + B₂X₂ + B3x² + € 23 11 20 17 15 21 24 13 19 25 Rating, * SNamotora X₂ (b) Interpret the regression coefficients (c) Test significance of each individual coefficients. 5 2 9 3 8 4 7 6 7 The agency wishes to develop a regression model that can be used to predict the sales prices of future houses it will list. 2 Use software of your choice to fit the 2 following models. Then answer the same questions (a-e) for both models. (a) Discuss why scatter plot of y vs x₁ and x₂ indicate that this model might be reasonable. (d) Test overall regression model (e) For an individual house with size=2000 Square feet and rating-8 find point estimation, 95% C.I. and 95% P.I.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.CR: Chapter 2 Review
Problem 111CR: Respiratory Rate Researchers have found that the 95 th percentile the value at which 95% of the data...
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