Please answer questions #4, #5, and #6. QUESTION 4 4 pointsSave Answer A home ap

Question

Please answer questions #4, #5, and #6.

QUESTION 4 4 pointsSave Answer A home appraisal company would like to develop a regression model that would predict the selling price of a house based on the age of the house in years (XI), the living area of the house in square feet (X2), and the number of bedrooms (X3). The following regression model was chosen using a data set of house statistics y-88,3995547 91.3333x2 31,471.1372x3 The first house from the data set had the following values Selling price = $324,000 Age 22 years Square Feet = 2,000 Bedrooms 3 The residual for this house is 23,558 -41,480 10,216 O -16,095 QUESTION 5 4 points Save Answer Adding additional independent variables to the regression equation will always decrease the coefficient of determination True False QUESTION 6 4 points Save Answer predicts the change in a dependent variable due to a one-unit increase in an independent variable while holding other variables constant. residual o regression coefficient correlation coefficient coefficient of determination

Explanation / Answer

4)

As given

X2=2000 and X3 = 3

On putting values we get

Predicted y=88399.5547+91.3333*2000+31471.1372*3

=365479.5663

So residual= Observed-Predicted =324000-365479.5663

=-41479.5663~-41480

5)

Since cofficient of determination always increased when we add a new independent variable.

Hence it's FALSE

6.)

Since regression coefficient defined as change in dependent variable due to unit change in independent variable holding other independent variables constant

Hence

Ans is

Regression coefficient

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---