Quesuon 23 (Iu points) The following data give the selling price, square footage
ID: 3055456 • Letter: Q
Question
Quesuon 23 (Iu points) The following data give the selling price, square footage, number of bedrooms, and age of houses that have sold in a neighborhood in the past 6 months. Use this data to develop a regression model to predict selling price based on the square footage, number of bedrooms, and age. Use this to predict the selling price of a 10-year-old, 2,000-square-foot house with three bedrooms. Price Sq Foot Bedrooms Age 84000 1670 2 790001339 2 91500 1712 3 120000 1840 3 127500 2300 3 132500 22343 1450002311 3 164000 23773 18 19 1550002736 168000 2500 172500 25004 3 174000 :2479-3 175000 2400 177500 31244 184000 2500-3 4062 4 Oa $139,965 Ob$142,564 Od s151,765Explanation / Answer
The regression equation is
Price = 91446 + 29.9 Sq Foot + 2117 Bedrooms - 1505 Age
The predict the sellng price of 2000 square foot, 10 year old and 3 bed rooms is
Price = 91446 + 29.9(2000) + 2117(3) - 1505(10) =142465
Correct answer: Option (C) 142,465
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