A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects

A Realtor examines the factors that influence the price of a house in Arlington, Massachusetts. He collects data on recent house sales (Price) and notes each house’s square footage (Sqft) as well as its number of bedrooms (Beds) and number of bathrooms (Baths). A portion of the data is shown in the accompanying table; the entire data set, labeled Arlington_Homes, can be found on the text website.

a. Estimate: Price = β0 + β1Sqft + β2Beds + β3Baths + . Show the regression results in a well-formatted table.
b. At the 5% significance level, are the explanatory variables jointly significant in explaining Price?
c. At the 5% significance level, are all explanatory variables individually significant in explainingPrice?

Transcribed Image Text:

Price 840000 822000 Sqft 2768 2500 Beds 3 Baths 3.5 2.5 307500 850