One IU Cam Question 10 2 pts A real estate builder wishes to determine how house

Question

One IU Cam Question 10 2 pts A real estate builder wishes to determine how house size (House) is influenced by family income (Income), family size (size), and education of the head of household (School). House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education isin years. The builder randomly selected 50 families and ran the multiple regression. Microsofte Excel output is provided below: SUMMARY OUTPUT Regression Statistics Multiple R 0.865 R Square 0.748 Adjusted R Square 0.726 Standard Error 5.195 Observations ANOVA MS Signif F Regression 3605.7736 1201.9245 0.0000 Residual 1214.2264 26.3962 Total 49 4820.0000 P-value Coeff Std Error t Stat 1.6335 0.7798 5.8078 0.281 Intercept 0.1137 3.9545 0.0003 0,4485 Income 4.2615 5.286 0.0001 0.8062 Size 0.4319 0.1383 1.509 School 0.6517 At the 001 level of significance, what conclusion should the builder draw tegarding the inclusion of

Explanation / Answer

The p - value related to school is 0.1383 which is greater than 0.01 and therefore, we do not reject the null hypothesis and conclude that school is not significant in explaining the house sizes.

Option B is correct.

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