Edit View Window Help 46% niversity of South Alabama : BUS-255-801 Fall SemTests

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Edit View Window Help 46% niversity of South Alabama : BUS-255-801 Fall SemTests&Quizzes; negative correlation-Google Search art 17 of 20- Question 17 of 20 .0 Points Based on a data with variables of the sale price of a home follewing table is an output of regression analysls through Exeel Data Analysis by setting Price as y-range and rest variablkes as -range (Prike), ts square footage (Som), the number of bedrooms(Bedsi, and the number of bathroms (Batho),the Coefficients Standard Error tStat p-value ntercept119000 Sqft Beds 95 600 9200 60000 50 20000 30000 0.5 0.7 2.4 0.03 1.0 0.35 3.9 0.0004 What is the predicted house price for the house with 1600 square feet, 3 bedrooms, and 2 bathrooms?

Explanation / Answer

From the table, the regression line becomes,

y = 119000 + 95(Sqft) + 600(Beds) + 9200(Baths)

Now, when Sqft = 1600, Beds = 3 and Baths = 2, we get

y = 119000 + 95(1600) + 600(3) + 9200(2) = 291200 (predicted house price)

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