The Seattle Real Estate Market : Data area vailable on a number of recent home sales in
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Question:
The Seattle Real Estate Market: Data area vailable on a number of recent home sales in 3 different cities inthe Seattle, WA area. A regression model has been developed topredict selling price (in thousands of USD) based on the number of bedrooms, the number of bathrooms, and the total living area (insqft.) as well as the city within which the property resides(either Bellevue, Renton, or Seattle).
ANOVA | |||||
---|---|---|---|---|---|
df | SS | MS | F-Statistic | p-value | |
Regression | 5 | 21,243,625 | 4,248,725 | ||
Residual | 180 | 7,325,363 | 40,696 | ||
Total | 185 | 28,568,988 | |||
Coefficients | Standard Error | t-Statistic | p-value | ||
Intercept | 200.824 | 61.332 | |||
Bedrooms | -53.473 | 20.074 | |||
Bathrooms | 20.264 | 31.315 | |||
Bellevue | 62.114 | 44.077 | |||
Renton | -265.282 | 42.166 | |||
Living Area | 0.280 | 0.027 |
The coefficient for BEDROOMS is negative, which seems counterintuitive. Describe the BEST explanation for this result.
Related Book For
An Introduction To Statistical Methods And Data Analysis
ISBN: 9781305465527
7th Edition
Authors: R. Lyman Ott, Micheal T. Longnecker
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