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Question 4-22: http://www.chegg.com/homework-help/questions-and-answers/looking-assistance-problem-could-please-explain-running-ression-model-excel-following-data-q8717033
Use the data in Problem 4-22 and develop a regression model to predict selling price based on the square footage and number of bedrooms. Use this to predict the selling price of a 2,000-square-foot house with three bedrooms. Compare this model with the models in Problem 4-22. Should the number of bedrooms be included in the model? Why or why not?
| 4-24 | 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. | |||||||||||||
| (A) | State the linear equation. | |||||||||||||
| (B) | Explain the overall statistical significance of the model. | |||||||||||||
| (C) | Explain the statistical significance for each independent variable in the model | |||||||||||||
| (D) | Interpret the Adjusted R2. | |||||||||||||
| (E) | Is this a good predictive equation(s)? Which variables should be excluded (if any) and why? Explain. | |||||||||||||
Solution
