A certain town is located approximately 25 miles east of a large city. The data organized below include the appraised value (in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in the town. Develop a multiple linear regression model to predict appraised value based on land area of the property and age, in years. Complete parts (a) through (). m Click the icon to view the data table. PLEASE RUN SPSS OR STATCRUNCH TO OBTAIN THE REQUIRED DATA TO ANSWER THE QUESTIONS BELOWI Be prepared to RUN SPSS OR STATCRUNCH In other questions in this module tool a. State the multiple regression equation. Let X, represent the land area of the property in acres and let X age, in years. (Round to four decimal places as needed.) b. Interpret the meaning of the slopes, b; and by, in this problem. Choose the correct answer below. OA For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by bz dollars. OB. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by 1000b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by 1000b, dollars. OC. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b, dollars. e. Explain why the regression coefficient, bo. has no practical meaning in the context of this problem. OA. The interpretation of bo has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. OB. The interpretation of b, has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value. OC. The interpretation of bo has no practical meaning here because it would represent estimated land area of a new house with no appraised value.
A certain town is located approximately 25 miles east of a large city. The data organized below include the appraised value (in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in the town. Develop a multiple linear regression model to predict appraised value based on land area of the property and age, in years. Complete parts (a) through (). m Click the icon to view the data table. PLEASE RUN SPSS OR STATCRUNCH TO OBTAIN THE REQUIRED DATA TO ANSWER THE QUESTIONS BELOWI Be prepared to RUN SPSS OR STATCRUNCH In other questions in this module tool a. State the multiple regression equation. Let X, represent the land area of the property in acres and let X age, in years. (Round to four decimal places as needed.) b. Interpret the meaning of the slopes, b; and by, in this problem. Choose the correct answer below. OA For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by bz dollars. OB. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by 1000b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by 1000b, dollars. OC. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b, dollars. e. Explain why the regression coefficient, bo. has no practical meaning in the context of this problem. OA. The interpretation of bo has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. OB. The interpretation of b, has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value. OC. The interpretation of bo has no practical meaning here because it would represent estimated land area of a new house with no appraised value.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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