The commercial division of a real estate firm is conducting a regression analysi

Question

The commercial division of a real estate firm is conducting a regression analysis of the relationship between x, annual (n thousands of dollars), and y, selling price on thousands of dolars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. The regression equation Y-20.0 7.25 x Coef SE Coef T 3.2213 6.21 7.250 1.3629 5.29 Analysis of Variance 1 41,587.2 Residual Error 8 51,984.3 a. How many apartment buildings were in the sample? b. write the estimated regression equation (to 2 decimals ir necessa c What is the value of stor (to 4 decimals) d. Use the F statistic to test the significance of the relationship at a .05 level of significance, Compute the F test statistic (to 2 What is the p-value? MacBook Air

Explanation / Answer

Above is the completed Table

b) Y = 20.00 + 7.25X

c) 3.2213

d) 28.00

P-value = 0.0011 ( If it's upto 3 the put 0.001, If upto two then put 0.00)

e) y = 20.00 + 7.25*50 = 382.5 Thousand = $382500

Source DF SS MS F P Regression 1 41587.2 41587.2 28.00 0.001 Residual Error 7 10397.1 1485.3 Total 8 51984.3

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