Question: Part A - Linear Regression create a regression model for Price using Sq Ft , Bedrooms , Bathrooms and Offers as the independent ( explanatory

Part A - Linear Regression create a regression model for Price using Sq Ft , Bedrooms , Bathrooms and Offers as the independent ( explanatory ) variables . Let us call this Model A . Include the StatTools regression output as Exhibit A. 1. Write out the estimated regression equation . 2. The coefficient of Sq Ft is 309 . 20 . Provide an economic interpretation of this number . 3 . Suppose a homeowner adds an extension to her house in the form of a 400 59 It . bedroom . What is the increase in the predicted selling price of her house ? 4 . Estimate the price of a 1720 59 It . house that has 3 bedrooms , 2 bathrooms and has had I offer made on it . 5 Consider house number 39 in the data set . It has 1720 59 ft . , 3 bedrooms , 2 bathrooms and has had I offer made on it . Suppose the list price is $656, 500 . a . According to Model A, is this house over- priced or under- priced
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
