# Question

Table gives the selling price (Price, expressed in thousands of dollars), the square footage (SqrFt), the number of bathrooms (Bathrms), and the niceness rating (Niceness, expressed as an integer from 1 to 7) of 80 homes randomly selected from all homes sold in a Florida city during the last six months. (The random selections were made from homes having between 2,000 and 3,500 square feet.) Table 3.11 also gives values of the dummy variable Pool?, which equals 1 if a home has a pool and 0 otherwise.

a. Noting that β4 is the effect on mean sales price of a home having a pool, find (on the output) a point estimate of this effect. If the average current purchase price of the pools in the sample is $ 32,500, find a point estimate of the percentage of a pool’s cost that a customer buying a pool can expect to recoup when selling his ( or her) home.

b. If we add various combinations of the interaction terms SqrFt X Pool?, Bathrooms Pool?, and Niceness X Pool? to the above model, we find that the p-values related to these terms are greater than .05. What does this imply?

a. Noting that β4 is the effect on mean sales price of a home having a pool, find (on the output) a point estimate of this effect. If the average current purchase price of the pools in the sample is $ 32,500, find a point estimate of the percentage of a pool’s cost that a customer buying a pool can expect to recoup when selling his ( or her) home.

b. If we add various combinations of the interaction terms SqrFt X Pool?, Bathrooms Pool?, and Niceness X Pool? to the above model, we find that the p-values related to these terms are greater than .05. What does this imply?

## Answer to relevant Questions

Figure 2.5 gives a percentage pie chart of new vehicle market shares in the U. S. for 2010 as given by GoodCarBadCar.net. Use this pie chart and your results from Exercise 2.9 to write an analysis explaining how new vehicle ...Recall from Exercise 14.5 that Enterprise Industries has observed the historical data in Table 14.5 concerning y (demand for Fresh liquid laundry detergent), x1 (the price of Fresh), x2 (the average industry price of ...The model using 12 squared and interaction variables has the smallest s. However, if we desire a somewhat simpler model, note that s does not increase substantially until we move from a model having seven squared and ...The trend in home building in recent years has been to emphasize open spaces and great rooms, rather than smaller living rooms and family rooms. A builder of speculative homes in the college community of Oxford, Ohio, had ...a. What do R2 and R̅² measure? b. How do R2 and R̅² differ?Post your question

0