Homework Help is Here – Start Your Trial Now!
Math
Statistics
Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018. Selling Price 160,000 170,000 178,000 182,500 195,100 212,500 245,900 250,000 255,000 258,000 267,000 268,000 275,000 Baths 1.5 1,786 2 1,768 1 Sq Ft 1 1,578 1,219 1.5 1,125 2 1,196 2 2,128 2 3 1,280 2.5 1,596 3.5 2,374 2,439 2 1,470 2 1,688 Beds 3 3 3 2 3 2 3 3 3 4 3 4 4 Selling Price 295,000 325,000 325,000 328,400 331,000 344,500 365,000 385,000 395,000 399,000 430,000 430,000 454,000 Baths 2.5 3.5 3 2,056 1.5 Sq Ft 2 1,408 1,860 2.5 2,776 2.5 1,736 2 2.5 1,990 2 1,972 2.5 3,640 1,928 2,108 2,462 2 2,615 3.5 3,700 Beds 3 4 4 4 3 3 4 4 4 3 4 4 4 Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes square footal number of bedrooms, and y denotes the selling price.) 9 = -5761.41 +-1226.47x₁ + 60.16x₂ + 54800.77x3 (a) Does the estimated regression equation provide a good fit to the data? Explain. (Round your answer to two decimal places.) Since the adjusted R² = , the estimated regression equation ---Select--- ✓a good fit. (b) Consider the estimated regression equation that was developed which predicts selling price given the square footage and number of bedrooms. (x₂ denotes square footage, x3 denotes number of bedrooms, and y denotes the selling price.) y=-6071.34 + 59.68x₂ +54368.03x3 Compare the fit for this simpler model to that of the model that also includes number of bathrooms as an independent variable. (Round your answer to two decimal places.) The adjusted p2 for the simpler model is which is Select than the adjusted p2 in part (a). The model from part 2 is preferred

Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018. Selling Price 160,000 170,000 178,000 182,500 195,100 212,500 245,900 250,000 255,000 258,000 267,000 268,000 275,000 Baths 1.5 1,786 2 1,768 1 Sq Ft 1 1,578 1,219 1.5 1,125 2 1,196 2 2,128 2 3 1,280 2.5 1,596 3.5 2,374 2,439 2 1,470 2 1,688 Beds 3 3 3 2 3 2 3 3 3 4 3 4 4 Selling Price 295,000 325,000 325,000 328,400 331,000 344,500 365,000 385,000 395,000 399,000 430,000 430,000 454,000 Baths 2.5 3.5 3 2,056 1.5 Sq Ft 2 1,408 1,860 2.5 2,776 2.5 1,736 2 2.5 1,990 2 1,972 2.5 3,640 1,928 2,108 2,462 2 2,615 3.5 3,700 Beds 3 4 4 4 3 3 4 4 4 3 4 4 4 Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes square footal number of bedrooms, and y denotes the selling price.) 9 = -5761.41 +-1226.47x₁ + 60.16x₂ + 54800.77x3 (a) Does the estimated regression equation provide a good fit to the data? Explain. (Round your answer to two decimal places.) Since the adjusted R² = , the estimated regression equation ---Select--- ✓a good fit. (b) Consider the estimated regression equation that was developed which predicts selling price given the square footage and number of bedrooms. (x₂ denotes square footage, x3 denotes number of bedrooms, and y denotes the selling price.) y=-6071.34 + 59.68x₂ +54368.03x3 Compare the fit for this simpler model to that of the model that also includes number of bathrooms as an independent variable. (Round your answer to two decimal places.) The adjusted p2 for the simpler model is which is Select than the adjusted p2 in part (a). The model from part 2 is preferred

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.2: Representing Data
Problem 22PFA
See similar textbooks
icon
Related questions
Question
Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018. Selling Price Baths Sq Ft Selling Price 160,000 170,000 178,000 182,500 195,100 212,500 245,900 250,000 255,000 258,000 267,000 268,000 275,000 1.5 1,786 2 1,768 1 1,219 1 1,578 1.5 1,125 2 1,196 2 2,128 N W 3 2 1,280 1,596 3.5 2,374 2.5 2,439 2 1,470 2 1,688 Beds 3 3 3 2 3 2 3 3 3 4 3 4 4 295,000 325,000 325,000 328,400 331,000 344,500 365,000 385,000 395,000 399,000 430,000 430,000 454,000 Baths Sq Ft 2.5 1,860 3 2,056 3.5 2,776 2 1,408 1.5 1,972 2.5 1,736 2.5 1,990 2.5 3,640 2.5 1,928 2 2,108 2 2,462 2 2,615 3.5 3,700 Beds 3 4 4 4 3 3 4 4 4 3 4 4 4 Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes square footage, X3 denotes number of bedrooms, and y denotes the selling price.) y = -5761.41 +-1226.47x₁ + 60.16x₂ +54800.77x3 (a) Does the estimated regression equation provide a good fit to the data? Explain. (Round your answer to two decimal places.) Since the adjusted R² = the estimated regression equation --Select--- a good fit. (b) Consider the estimated regression equation that was developed which predicts selling price given the square footage and number of bedrooms. (x₂ denotes square footage, X3 denotes number of bedrooms, and y denotes the selling price.) y = -6071.34 + 59.68x₂ +54368.03x3 Compare the fit for this simpler model to that of the model that also includes number of bathrooms as an independent variable. (Round your answer to two decimal places.) The adjusted R² for the simpler model is , which is ---Select--- than the adjusted R² in part (a). The model from part? is preferred.
Transcribed Image Text:Spring is a peak time for selling houses. Suppose the data below contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018. Selling Price Baths Sq Ft Selling Price 160,000 170,000 178,000 182,500 195,100 212,500 245,900 250,000 255,000 258,000 267,000 268,000 275,000 1.5 1,786 2 1,768 1 1,219 1 1,578 1.5 1,125 2 1,196 2 2,128 N W 3 2 1,280 1,596 3.5 2,374 2.5 2,439 2 1,470 2 1,688 Beds 3 3 3 2 3 2 3 3 3 4 3 4 4 295,000 325,000 325,000 328,400 331,000 344,500 365,000 385,000 395,000 399,000 430,000 430,000 454,000 Baths Sq Ft 2.5 1,860 3 2,056 3.5 2,776 2 1,408 1.5 1,972 2.5 1,736 2.5 1,990 2.5 3,640 2.5 1,928 2 2,108 2 2,462 2 2,615 3.5 3,700 Beds 3 4 4 4 3 3 4 4 4 3 4 4 4 Consider the estimated regression equation we developed that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house. (x, denotes number of bathrooms, x₂ denotes square footage, X3 denotes number of bedrooms, and y denotes the selling price.) y = -5761.41 +-1226.47x₁ + 60.16x₂ +54800.77x3 (a) Does the estimated regression equation provide a good fit to the data? Explain. (Round your answer to two decimal places.) Since the adjusted R² = the estimated regression equation --Select--- a good fit. (b) Consider the estimated regression equation that was developed which predicts selling price given the square footage and number of bedrooms. (x₂ denotes square footage, X3 denotes number of bedrooms, and y denotes the selling price.) y = -6071.34 + 59.68x₂ +54368.03x3 Compare the fit for this simpler model to that of the model that also includes number of bathrooms as an independent variable. (Round your answer to two decimal places.) The adjusted R² for the simpler model is , which is ---Select--- than the adjusted R² in part (a). The model from part? is preferred.
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
SEE MORE TEXTBOOKS