Question: A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible

A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, 0 for no), and the total years of education beyond high school for the husband and wife. The sample information is reported below.

FamilySqrFtIncomeSizeSeniorEducation
1224060.8204
2238068.4216
33400104.5307
4336089.3410
5300072.2402
629001143110
74100125.4606
8252083.6308
94200133502
10280095306

a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of family members first, then their income and delete any insignificant variables. Leave no cells blank - be certain to enter "0" wherever required. R and R2 adj are in percent values. Round your answers to 3 decimal places.)

A real estate developer wishes to study the relationship between the size

Step 2 Constant Family Size t-statistic p-value Income t-statistic p-value S R-Sq R-Sq(adj)

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