A national homebuilder builds single family homes and condominium style townhouses. The Excel file House Sales provides
Question:
A national homebuilder builds single family homes and condominium style townhouses. The Excel file House Sales provides information on the selling price, lot cost, type of home, and region of the country (M = Midwest, S = South) for closings during one month.
a. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term.
b. Determine if an interaction exists between lot cost and type of home and find the best model. What is the predicted price for either a single family home or a townhouse with a lot cost of $ 30,000?
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Step by Step Answer:
House Sales Region Type Selling Price Lot Cost Townhouse Interaction Midwest Townhouse 85145 17030 1 17030 Midwest Townhouse 112740 20700 1 20700 Midwest Townhouse 115350 18030 1 18030 Midwest Townhou...View the full answer
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Related Book For 
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ISBN: 978-0321997821
2nd edition
Authors: James R. Evans
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