The following data was collected to explore how the number of square feet in a h

Question

The following data was collected to explore how the number of square feet in a house, the number of bedrooms, and the age of the house affect the selling price of the house. The dependent variable is the selling price of the house, the first independent variable (x) is the square footage, the second independent variable (2) is the number of bedrooms, and the third independent variable (r3) is the age of the house Effects on Selling Price of Houses Square Feet Number of Bedrooms Age Selling Price 2683 1889 2602 1905 2851 1916 1920 1634 1258 107100 212400 293400 202200 115400 304600 153900 263500 189500 4 4 4 4 13 Copy Data Step 2 of 2: Determine if a statistically significant linear relationship exists between the independent and dependent variables at the 0.05 level of significance. If the relationship is statistically significant, identify the multiple regression equation that best fits the data, rounding the answers to three decimal places. Otherwise, indicate that there is not enough evidence to show that the relationship is statistically significant. Answer(How to Enter) 2 Points Keypad Selecting a checkbox will replace the entered answer value(s) with the checkbox value. If the checkbox is not selected, the entered answer is used. x3 There is not enough evidence

Explanation / Answer

The statistical software output for this problem is:

Multiple linear regression results:
Dependent Variable: Selling Price
Independent Variable(s): Square Feet, No. of Bedrooms, Age
Selling Price = 134219.13 + -32.765968 Square Feet + 30291.25 No. of Bedrooms + 4247.0044 Age

Parameter estimates:

Analysis of variance table for multiple regression model:

Summary of fit:
Root MSE: 71262.281
R-squared: 0.3908
R-squared (adjusted): 0.0253

Hence,

p - Value = 0.4407

Since the relationship is not significant, do not put any values in the equation. Just click the check box and it will be correct.

Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 134219.13 152899 0 5 0.87782868 0.4202 Square Feet -32.765968 57.788253 0 5 -0.5670005 0.5952 No. of Bedrooms 30291.25 34353.769 0 5 0.88174459 0.4183 Age 4247.0044 8190.5673 0 5 0.51852383 0.6262

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