Use the data in Problem 4-22 and develop a regression model to predict selling p

Question

Use the data in Problem 4-22 and 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. 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. Develop three regression models to predict the selling price based upon each of the other factors individually. Which of these is best?

Explanation / Answer

the multiple linear regression equation is

sp=b0+b1*sf+b2*br+b3*age=44925-2.0379*sf+36205*br-1011.5381*age

for age=10, sf(square feet)=2000, br(bed room)=3

selling price (sp)=44925-2.0379*2000+36205*3-1011.5381*10=139348.819

following information has been generated using multiple linear regression

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