Question: Using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value as a function of both the age

Using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. State the model and explain R2. Click the icon to view the Home Market Value data. State the model for predicting MarketValue as a function of Age and Size, where Age is the ag of the house, and Size is the size of the house in square feet. MarketValue =+( Age +1 Size (Type integers or decimals rounded to three decimal places as needed) The value of R2, indicates that % of the variation in the is explained by (Type integers or decimals rounded to three decimal places as needed.) \begin{tabular}{|r|r|r|r|} \hline A & A & \multicolumn{1}{|c|}{C} \\ \hline 4 & 31 & 1802 & 93370 \\ \hline 5 & 35 & 1773 & 94600 \\ \hline 6 & 33 & 1756 & 104584 \\ \hline 7 & 31 & 2049 & 106679 \\ \hline 8 & 33 & 1663 & 84449 \\ \hline 9 & 32 & 1890 & 98624 \\ \hline 10 & 34 & 1846 & 88571 \\ \hline 11 & 34 & 1684 & 91559 \\ \hline 12 & 30 & 1826 & 105350 \\ \hline 13 & 31 & 1599 & 99212 \\ \hline 14 & 30 & 1746 & 85940 \\ \hline 15 & 31 & 2485 & 114959 \\ \hline 16 & 32 & 2307 & 112894 \\ \hline 17 & 35 & 1620 & 87519 \\ \hline 18 & 34 & 2210 & 120467 \\ \hline 19 & 31 & 1585 & 94933 \\ \hline 20 & 34 & 1765 & 85428 \\ \hline 21 & 33 & 1586 & 87677 \\ \hline 22 & 29 & 1489 & 81061 \\ \hline 23 & 28 & 1449 & 81538 \\ \hline 24 & 27 & 1518 & 79002 \\ \hline 25 & 29 & 1572 & 85231 \\ \hline 26 & 27 & 1479 & 86644 \\ \hline 27 & 29 & 1529 & 78607 \\ \hline 28 & 29 & 1536 & 88816 \\ \hline 29 & 27 & 1697 & 90612 \\ \hline 30 & 27 & 1410 & 81807 \\ \hline 31 & 27 & 1405 & 85152 \\ \hline 32 & 29 & 1517 & 90740 \\ \hline 33 & 27 & 1521 & 89599 \\ \hline 34 & 26 & 1461 & 74991 \\ \hline 35 & 28 & 1572 & 84585 \\ \hline 36 & 28 & 1612 & 95246 \\ \hline 37 & 29 & 1609 & 85036 \\ \hline 38 & 27 & 1695 & 91305 \\ \hline 39 & 27 & 1514 & 83758 \\ \hline 40 & 26 & 1506 & 96114 \\ \hline 41 & 28 & 1449 & 90511 \\ \hline 42 & 28 & 1602 & 94006 \\ \hline 43 & 28 & 1623 & 119226 \\ \hline \end{tabular}

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!

Using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. State the model and...

Can you check my work and help with the last box. ( the result suggest that ____________ in the model is/are significant Just last box. output: SUMMARY OUTPUT Regression Statistics Multiple R...

Can you check my work and help with Size P-value. \f\foutput: SUMMARY OUTPUT Regression Statistics Multiple R 0.669437987 R Square 0.448147218 Adjusted R Square 0.419847076 Standard Error 7648.438979...

Hello, I need help with the significance F part. The rest I completed. Thank you. SUMMARY OUTPUT Regression Statistics Multiple R 0.66943799 R Square 0.44814722 Adjusted R Square 0.41984708 Standard...

Using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. State the model and...

using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value es a function of both the age and size of the house State the model and...

Points: 0.63 of 5 Using the accompanying Home Market Value data, develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. State...

Using the accompanying Home Market Value data develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house State the model and...

What are the different test conducted on Bushings? Explain in detail.

Determine the missing amounts. (Round ratios to 0 decimal places, e.g. 125.) Unit Selling Price Unit Variable Costs Contribution Margin per Unit Contribution Margin Ratio 1. $250 $170 (a)$ (b) % 2....

Suppose your triend has come up wth a trading strategy that buys companies that are headquartered in New England and selts those headquartered in Texas. The strategy eams 5 % afpha annuatly ( e -...

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.