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  1. mathematics
  2. basic math
  3. selling price square footage bedrooms age (years)

SELLING PRICE SQUARE FOOTAGE BEDROOMS AGE (YEARS) 84,000 1,670 2 30 79,000 1,339 2 25 91,500 1,712 3 30 120,000 1,840 3 40 127,500 2,300 3 18 132,500 2,234 3 30 145,000 2,311 3 19 164,000 2,377 3 7 155,000 2,736 4 10 168,000 2,500 3 1 172,500 2,500 4 3 174,000 2,479 3 3 175,000 2,400 3 1 177,500 3,124 4 0 184,000 2,500 3 2 195,500 4,062 4 10 195,000 2,854 3 3 2.) Solve this question by hand: Develop a regression model to predict selling...

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Verified Solution

Question

Basic Math

SELLING PRICESQUARE FOOTAGEBEDROOMSAGE (YEARS)
84,0001,670230
79,0001,339225
91,5001,712330
120,0001,840340
127,5002,300318
132,5002,234330
145,0002,311319
164,0002,37737
155,0002,736410
168,0002,50031
172,5002,50043
174,0002,47933
175,0002,40031
177,5003,12440
184,0002,50032
195,5004,062410
195,0002,85433

2.) Solve this question by hand:

Develop a regression model to predict selling price based on thesquare footage. Find the value of beta(regression coefficient),coefficient of determination. Test for the significance of themodel at 5% level. You must report the test statistic, it'scorresponding significance value and the critical value thatcorresponds to 5%. (You can find a table of the relevantdistribution by a google search)

Answer & Explanation Solved by verified expert
4.1 Ratings (630 Votes)
Observation TableSELLING PRICE YSQUARE    See Answer
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