Problem 5

You are asked to analyze data for single family homes for sale under $1 million in NY Westchester County. The variables are:

Selling price (in $000)

Number of bedrooms

Number of bathrooms

Sq. Ft

Built (year built)

Days on Zillow (number of days the home was advertised on Zillow)

?You first construct a simple regression model with explanatory variable Sq Ft (model 1).

SUMMARY OUTPUT Regression Statistics Multiple R 0.8004 R Square 0.6407 Adjusted R Square 0.6351 Standard Error 105.3802 Observations 67 ANOVA df SS MS F Significance F Regression 1286921.93 1286921.9 115.8869 4.37411E-16 Residual 65 721824.0346 11104.985 Total 66 2008745.965 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 167.2869 40.4763 4.1330 0.000105 86.4500 248.1238 SqFt 0.1758 0.0163 10.7651 4.37E-16 0.1432 0.2084