A MATH 202 Statistics student is looking for a house to rent in the ekmeky area....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A MATH 202 Statistics student is looking for a house to rent in the ekmeky area. He saw 21 rental houses with a net area of 50 square meters to 80 square meters, and the following question about the prices of these houses was stuck in his mind. There does not seem to be much of a relationship between house prices and the net area of the house. For this reason, he made a regression analysis to understand the relationship between the net areas of the houses (in terms of square meters) and the house prices (in terms of TL) and obtained the following excel output file: SUMMARY Regression Statistics Multiple R R Square Adjusted Square Standard Error 1068.990 Observations 21 0.673 0.453 0.424 ANOVA Regression Residual Total Intercept Areas df 1 19 20 Coefficients -1142.588 102.875 SS 17977371.96 17977371.96 21712056.61 1142739.822 39689428.57 Standard Error 1719.096 25.937 MS a) Write dependent and independent variables. b) Write the regression equation. t Stat -0.665 3.966 F 15.73181543 P-value 0.514 0.001 c) How would you best explain the y-intercept within the range of the analysis? d) How would you best explain the slope coefficient? e) What would be the estimated rent of a 65 square meters house? What would be the estimated rent of a 90 square meters house? f) What would be the best explanation of R Square? g) Test whether there is a linear relation between the net area of houses and the price of houses at the a = 0.05 significance level. Write your hypotheses. Write the statistical implication of the result you found. h) Construct a 95% confidence interval for the correct slope coefficient. Write the statistical implication of the result you found. A MATH 202 Statistics student is looking for a house to rent in the ekmeky area. He saw 21 rental houses with a net area of 50 square meters to 80 square meters, and the following question about the prices of these houses was stuck in his mind. There does not seem to be much of a relationship between house prices and the net area of the house. For this reason, he made a regression analysis to understand the relationship between the net areas of the houses (in terms of square meters) and the house prices (in terms of TL) and obtained the following excel output file: SUMMARY Regression Statistics Multiple R R Square Adjusted Square Standard Error 1068.990 Observations 21 0.673 0.453 0.424 ANOVA Regression Residual Total Intercept Areas df 1 19 20 Coefficients -1142.588 102.875 SS 17977371.96 17977371.96 21712056.61 1142739.822 39689428.57 Standard Error 1719.096 25.937 MS a) Write dependent and independent variables. b) Write the regression equation. t Stat -0.665 3.966 F 15.73181543 P-value 0.514 0.001 c) How would you best explain the y-intercept within the range of the analysis? d) How would you best explain the slope coefficient? e) What would be the estimated rent of a 65 square meters house? What would be the estimated rent of a 90 square meters house? f) What would be the best explanation of R Square? g) Test whether there is a linear relation between the net area of houses and the price of houses at the a = 0.05 significance level. Write your hypotheses. Write the statistical implication of the result you found. h) Construct a 95% confidence interval for the correct slope coefficient. Write the statistical implication of the result you found.
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these mathematics questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
"If nominal GDP rises, velocity must rise." Is this statement true, false, or uncertain? Explain your answer.
-
1- Explain the interrelationship between innovation and entrepreneurship. 2- Compare the risks and benefits of a social-organization as it relates to change and innovation. 3- Speculate how...
-
A circular coil enclosing an area of 100 cm2 is made of 200 turns of copper wire. The wire making up the coil has resistance of 5.0 , and the ends of the wire are connected to form a closed circuit....
-
What is the payback period for the project described below? Machine investment $24,999 MARR 18% Annual benefit $5,000 Annual maintenance Life Salvage value $2,500 7 years $1,000
-
Olivia Company began 2013 with a Retained Earnings account balance of $180,000. During 2013, the following 8 events occurred and were properly recorded by the company: 1. Bonds payable with a face...
-
You are evaluating a project with the following cash flows: initial investment is $ - 1 1 , and the expected cash flows for years 1 - 3 are $ 6 , $ 1 4 and $ 1 1 ( all cash flows are in millions of...
-
?? Problems (4) to (8) below are based on Example Problem 13.4 Example Problem 13.4 FIGURE 13.41 System for Example Problem 13.4 80 ft Figure 13.41 shows a pumped fluid flow system that is being...
-
1. Design a logic circuit to produce HIGH output only if the input, represented by a 4-bit binary number, is greater than twelve or less than three. a. List the Truth Table b. Extract the Boolean...
-
Booking.com finds out that a lot of its website users from the US, who wants to go to Italy, are abandoning the site after looking through various hotel options in Italy. This could be due to the...
-
(a) What methods are used in infrared, ultravoilet, and visible light systems to reduce the effects of deposition on windows and sample tube walls. (b) Explain why is it increasingly possible to use...
-
Essentially, I am required to do a self reflective report using Gibbs Reflective cycle Model about my experiences with 'working with the industry' (My module name) . I understand the bullet points...
-
1) After 25 years of ownership, the Bannerman family is selling their Toronto area automotive dealership, Bannerman Toyota to the Prime Auto Group. As part of the sale, the Bannerman family insists...
-
After administrating a survey, the data must be totaled, or quantified, in order to be useful. Putting the data into a table is often used to analyze the results. Produce a document with your answers...
-
Write an essay in which you argue for or against the comment below. Support and defend your argument by drawing on your reasoning ability and general experience. Statistics show that newly licensed...
-
Give codons for the following amino acids: (a) Th (b) Asp (c) Thr
-
In June of 2012, Maureen's house is vandalized during a long-term power failure after a hurricane hit the city. The president of the United States declares Maureen's city a disaster area as a result...
-
Mike sells his home to Jane on April 2, 2012. Jane pays the property taxes covering the full calendar year in October, which amount to $2,500. How much may Mike and Jane each deduct for property...
-
Larry and Lisa Williams, both 33 years old, have been married for 9 years. They live at 638 Arctic Way, Fairbanks, AK 99701. Lisa's Social Security number is 445- 81-1423 and Larry's is 798-09-8526....
-
A fertilizer producing company purchases nitrates, phosphates, potash, and an inert chalk base and produces four different fertilizers A, B,C, and D. The cost of these nitrates, phosphates, potash,...
-
We are interested to produce $P$ in the reaction $A ightarrow P$ using a continuous reactor at $v=240$ liters/ hr with $C_{A_{0}}=3$ moles/liter. However, it is noticed that there is a second...
-
Heavy fuel oil, initially semisolid at $15^{\circ} \mathrm{C}$ is to be heated and pumped through a $15 \mathrm{~cm}$ diameter (inside) pipe at the rate of $20000 \mathrm{~kg} / \mathrm{h}$. The pipe...
Study smarter with the SolutionInn App