Question: need help regarding these last 3 questions, will be sure to give a thumbs up if answers seems right! thanks this is data Price Rooms

need help regarding these last 3 questions, will be sure to givea thumbs up if answers seems right! thanks this is data Priceneed help regarding these last 3 questions, will be sure to give a thumbs up if answers seems right! thanks

this is data

Price Rooms Neighborhood
309.6 7 0
307.4 8 0
340.3 9 0
346.5 12 0
298.2 6 0
337.8 9 0
324.1 10 0
313.2 8 0
327.8 9 0
325.3 8 0
308.5 6 1
381.3 13 1
337.4 10 1
346.2 10 1
342.4 9 1
323.7 8 1
329.6 8 1
343.6 9 1
360.7 11 1
348.3 9 1

Neighbor A real estate association in a suburban community would like to study the relationship between the size of a single-family house (as measured by the number of rooms) and the selling price of a house (in $ thousands). Two different neighborhoods are included in the study, one on the east side of the community (= 0) and the other on the west side (= 1). A random sample of 20 houses was selected, with the results stored in Neighbor. *For a through i, do not include an interaction term*. = j. Add an interaction term to the model and at the 0.05 level of significance, determine whether it makes a significant contribution to the model. k. On the basis of the results in (f) and (j), which model is most appropriate? Why? 1. What conclusions can the real estate associate reach about the effect of rooms and neighborhood on the selling price of homes? Which, if any, of the independent variables has a bigger effect? Neighbor A real estate association in a suburban community would like to study the relationship between the size of a single-family house (as measured by the number of rooms) and the selling price of a house (in $ thousands). Two different neighborhoods are included in the study, one on the east side of the community (= 0) and the other on the west side (= 1). A random sample of 20 houses was selected, with the results stored in Neighbor. *For a through i, do not include an interaction term*. = j. Add an interaction term to the model and at the 0.05 level of significance, determine whether it makes a significant contribution to the model. k. On the basis of the results in (f) and (j), which model is most appropriate? Why? 1. What conclusions can the real estate associate reach about the effect of rooms and neighborhood on the selling price of homes? Which, if any, of the independent variables has a bigger effect

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!