A real estate agent wanted to find the relationship between sale price of houses and the size of the house.She collected data on two variables recorded in the following table for 15 houses in Seattle. The two variablesarePRICE= Sale price of houses in thousands of dollarsSIZE= Area of the entire house in square feet.PRICE455278463327505264445346487289434411223323488250225290180320240270205285240260230170230298SIZEa) Using MICROSOFT EXCEL- run the above regression and copy the output into your assignment word documentfrom which you can write down the least square regression line. Write down the least square regression linefrom that specific output. USE THE NAME OF VARIABLES WHEN YOU WRITE THE EQUATION.b) Interpret the slope and constant term with proper UNITS assigned.c) Comment on the explanatory power of the regression model from the required output. Copy that specificoutput into your assignment word document.Now to increase the explanatory power of the model the real estate agent decides to look at the age of thehouse and the garden size. For the 15 houses in our sample the new variables areAGE= Age of the house in years, since it was builtGARDEN= Area of the garden in acres.AGE81294289.13716819171.0.1.0.2.1.2.1.2.1.3.1.0.2.3.GARDEN487211774d) Once these two new variables are added- run the new regression using MICROSOFT EXCEL. Copy the outputinto your assignment word document from which you can write down the new least square regression line.Write down the new least square regression line from that specific output. USE THE NAME OF VARIABLESWHEN YOU WRITE THE EQUATION.e) Interpret the coefficients with all the independent variables with proper UNITS.f) Comment on the explanatory power of the regression model from the required output. Copy the output intoyour assignment word document.g) Compare the two regression models that you have found using the appropriate parameter. which is betterand why? Give proper reasoning.h) If you were to add a DUMMY VARIABLE in this regression model what would be an appropriate one? Why?

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A real estate agent wanted to find the relationship between sale price of houses and the size of the house. She collected data on two variables recorded in the following table for 15 houses in Seattle. The two variables are PRICE= Sale price of houses in thousands of dollars SIZE= Area of the entire house in square feet. PRICE 455 278 463 327 505 264 445 346 487 289 434 411 223 323 488 250 225 290 180 320 240 270 205 285 240 260 230 170 230 298 SIZE a) Using MICROSOFT EXCEL- run the above regression and copy the output into your assignment word document from which you can write down the least square regression line. Write down the least square regression line from that specific output. USE THE NAME OF VARIABLES WHEN YOU WRITE THE EQUATION. b) Interpret the slope and constant term with proper UNITS assigned. c) Comment on the explanatory power of the regression model from the required output. Copy that specific output into your assignment word document.

A real estate agent wanted to find the relationship between sale price of houses and the size of the house. She collected data on two variables recorded in the following table for 15 houses in Seattle. The two variables are PRICE= Sale price of houses in thousands of dollars SIZE= Area of the entire house in square feet. PRICE 455 278 463 327 505 264 445 346 487 289 434 411 223 323 488 250 225 290 180 320 240 270 205 285 240 260 230 170 230 298 SIZE a) Using MICROSOFT EXCEL- run the above regression and copy the output into your assignment word document from which you can write down the least square regression line. Write down the least square regression line from that specific output. USE THE NAME OF VARIABLES WHEN YOU WRITE THE EQUATION. b) Interpret the slope and constant term with proper UNITS assigned. c) Comment on the explanatory power of the regression model from the required output. Copy that specific output into your assignment word document.

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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