1SUMMARY OUTPUT Regression Statistics 4 Multiple R 5 R Square 6 Adjusted R Squar

Question

1SUMMARY OUTPUT Regression Statistics 4 Multiple R 5 R Square 6 Adjusted R Square 7 Standard Error 8 Observations 0.638460684 0.407632045 0.407263543 1487710.983 3218 10 ANOVA df MS 4.8966E+15 2.4483E+15 1106.184945 SignificanceF 0 12 Regression 13 Residual 14 Total 3215 7.11571E+15 2.21328E+12 3217 1.20123E+16 Coefficients Standard Error t Stat 96341.99665 28196.73159 3.416778869 0.000641535 41056.60486 10.25948913 0.236961279 43.29605733 1.085354691 0.114119612 -9.510676352 3.58645E-21 -1.309109256 P-value Lower 95% 17 Intercept 18 BLDGS 19 LAND 20 21 0 9.794878644 Sheet2 Sheet1 + 100% al

Explanation / Answer

The predicted regession model is:

Y=96341.997 +10.26*BLDGS-1.085*LAND

Here the estimated coefficient for BLDGS is 10.26 which indicates that the changes in BLDGS space by unit square meter the predicted value for the value of city block increases by $10.26.

Also the estimated coefficient for LAND is -1.085 which indicates that the changes in LAND by unit square meter the predicted value for the value of city block decreases by $1.085.

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