A Realtfor examines the factors that infuence the price of a house in Arlington,
ID: 3323264 • Letter: A
Question
A Realtfor examines the factors that infuence the price of a house in Arlington, Massachusetts He collects data on recent house sales (Price) and notes each house's square footage (Saft) as well as its number bedrooms (Beds) and number of bathrooms (Baths). A portion of the data is shown in the accompanying table Use Jable 2 and Table 4. Price Saft Beds BathsPrice Sft Beds Baths 495,000 1,692 3 2.0 463,000 1,714 3 20 457,000 1650 3 20 451,000 1,685 3 20 435,000 1,500 3 15 431,700 1,896 2 15 840,000 2768 4 35 000 2,5004 822,0 25 713,000 2,400 3 30 689000 2,200 3 25 685,000 2,716 3 35 645,000 2,524 3 20 620000 2436 35 015001,152 3 10 587.500 2 100 3 1.5 585,000 1,947315 583000 2224 3 25 569.000 3,262 4 2.0 546,000 1,792 3 20 540,000 1,488 3 1.5 537,000 2,907 3 25 401,500 1,152 3 10 399,000 1,383 4 1.0 380,000 1344 4 20 380,000 1.272 3 10 375,900 2275 5 1.0 372.000 1,005 2 10 367.500 1.272 3 10 356 500 1,431 2 2.0 516,000 1951 4 20 330,000 1.362 3 10 330,000 1465 3 10 07.500 850 1 1.0 511.000 1,7523 15 510,000 1,727 3 20 a. Estimate Price· +D, Sqt + 2 Beds . , Baths + c Round your answers to2 decimal places.) Sqft + Beds + Baths Search the web and WindowsExplanation / Answer
Answer:
Based on the given data, below is the output of a regression analysis.
Price = 153348.27 + 95.86*Sqft + 556.89*Beads + 92022.91*Baths
Regression Statistics Multiple R 0.850689001 R Square 0.723671776 Adjusted R Square 0.697766005 Standard Error 74984.98417 Observations 36 ANOVA df SS MS F Significance F Regression 3 4.71211E+11 1.5707E+11 27.93477 4.59052E-09 Residual 32 1.79928E+11 5622747851 Total 35 6.51138E+11 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 153348.27 57141.79 2.68 0.01 36954.24 269742.29 36954.24 269742.29 X Variable 1 95.86 35.40 2.71 0.01 23.75 167.96 23.75 167.96 X Variable 2 556.89 20280.31 0.03 0.98 -40752.75 41866.54 -40752.75 41866.54 X Variable 3 92022.91 25012.30 3.68 0.00 41074.53 142971.30 41074.53 142971.30