TABLE 7 A real estate builder wishes to determine how house size (House) is infl

Question

TABLE 7 A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in hundreds of square feet and income is measured in thousands of dollars. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Exoel output is provided below: Multiple R R Square Adjusted R Square Standard Error 0.7189 o.7069 7.5571 37043.323 87.7627 308.2503 Stot 5.5146 10.8668 5.5437 3.2708 Also SSR (X11X2)-36400.6326 and SSR (X2lX1)-3297.7917

Explanation / Answer

Total percentage of variability of house size explained by the model is 71.89% i.d. 100%*aR squared in the above table now the variability explained by family size is 1.25% hence the variability explained by income is 71.89-1.25=70.64%

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