The following data gives the selliong price zquare footage n

The following data gives the selliong price, zquare footage, number of bedrooms, and
the age of houses that have sold in a neighborhood in the pat 6 months. Develop three
regression models to predict the selling price based upon each of the other factors
individually. Which of these are the best.
Selling Price($) Square Footage Bedrooms Age (Years)
84,000 1,670 2 30
79,000 1,339 2 25
91,500 1,712 3 30
120,000 1,840 3 40
127,500 2,300 3 18
132,500 2,234 3 30
145,000 2,311 3 19
164,000 2,377 3 7
155,000 2,736 4 10
168,000 2,500 3 1
172,500 2,500 4 3
174,000 2,479 3 3
175,000 2,400 3 1
177,500 3,124 4 0
184,000 2,500 3 2
195,500 4,062 4 10
195,000 2,854 3 3

Solution

3

The selling price based upon square footage

The regression line of selling price based upon square footage is

Y=26532.23614+51.02721153X

The selling price based upon Bedrooms

The regression line of selling price based upon Bedrooms is

Y=20331.63265+41403.06122(X)

The selling price based upon Age

The regression line of selling price based upon Age is

Y=182504.7044-2424.913681(X).

The best model to use is the age of the house to determine the age of the house because the R² of the age has the highest R² which is 0.702688152 and the p value is significant .Because it is smaller than 0.05