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A real estate agent would like to know if the number of bedrooms in a house...

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Statistics

A real estate agent would like to know if the number of bedroomsin a house can be used to predict the selling price of the house.More specifically, she wants to know whether a larger number ofbedrooms leads to a higher selling price. Records for 25 housesthat recently sold in the area were selected at random, and data onthe number of bedrooms (x) and the selling price (y) (in $000s) foreach house were used to fit the model E(y) = β0 + β1x.

The value of the test statistic for testing β1 is 11.3383 andthe corresponding standard error is 1.29384. What is the linearrelationship between bedrooms and the selling price?

Answer & Explanation Solved by verified expert
4.2 Ratings (675 Votes)
Solution We are given the test statistic fortesting is 113383 and standard error of is 129384From the given information we can find the    See Answer
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