A realtor used the regression model, y = beta_0 + beta_1 x 1 + beta_2 x 2 + epsi
ID: 3171542 • Letter: A
Question
A realtor used the regression model, y = beta_0 + beta_1 x 1 + beta_2 x 2 + epsilon, to predict selling prices of homes (in thousands of $) in a Columbus suburb. The variable x_1 represents the home size (square feet), and x_2 represents the number of bedrooms. The following Excel partial output is available. If you conduct a test for the overall significance of the model at a 1 % significance level, the critical value for this test is About 95% 7.56 1.96 About 111 A realtor used the regression model, y = beta_0 + beta_1 x 1 + beta_2 x 2 + epsilon, to predict selling prices of homes (in thousands of $) in a Columbus suburb. The variable x_1 represents the home size (square feet), and x_2 represents the number of bedrooms. The following Excel partial output is available.Explanation / Answer
Answer:Optin (B) = 7.56
The critical values is obtained by
from F-tables, LOS alpha = 1%, n1 = 2 df and n2 = 10
or
In Excel
=FINV(0.01,2,10)