QUESTION 3Using column (4), is the overall effect of size on price statistically significant? How would you go about testing this hypothesis? Match each question to the correct option.A.3.84What is the null hypothesis for this test?B. Ho: B1 + B2 = 0What is the alternative hypothesis for this test?C. Ho: B1=0What is the appropriate test?D. H1: At least one of B1 and/or B2 #0What is the appropriate critical value? Assume a 5% level of significance.E. 1.96F.H1: B1#B2#0G. Ho: B1=B2 = 0Н. 3.00I.Ho: At least one of B1 and/or Bz#0J. H1: B1#0K. t-testL. 1.64М. 2.30N. F-test QUESTION 1Suppose a researcher collects data on houses that have been sold in a particular neighbourhood over the past year, and obtains the regressions results in the table shown below. This table isused for Questions 1-6.Dependent variable: In(Price)Regressor(1)(2)(3)(4)(5)0.00042(0.000038)SizeIn(Size)0.57(2.03)0.690.680.69(0.055)(0.054)(0.087)In(Size)²0.0078(0.14)Bedrooms0.0036(0.037)Рol0.0820.0710.0710.0710.071(0.032)(0.034)(0.034)(0.036)(0.035)0.0370.0270.0260.0270.027(0.030)View(0.029)(0.028)(0.026)(0.029)Pool x View0.0022(0.10)0.12(0.035)Condition0.130.120.12(0.035)0.12(0.045)(0.035)(0.036)6.63(0.53)Intercept10.976.607.026.60(0.069)(0.39)(7.50)(0.40)Summary StatisticsSER0.1020.0980.0990.0990.099R?0.720.740.730.730.73Variable definitions: Price = sale price ($); Size = house size (in square feet); Bedrooms = number of bedrooms; Pool = binaryvariable (1 if house has a swimming pool, 0 otherwise); View = binary variable (1 if house has a nice view, 0 otherwise); Condition =binary variable (1 if real estate agent reports house is in excellent condition, 0 otherwise).A family purchases a 2000 square foot home and plans to make extensions totalling 500 square feet. The house currently has a pool, and a real estate agent has reported that the house is inexcellent condition. However, the house does not have a view, and this will not change as a result of the extensions.According to the results in column (1), what is the expected DOLLAR increase in the price of the home due to the planned extensions? (Report your answer to the nearest dollar and donot include any commas or $ signs.)

Using column (4), is the overall effect of size on price statistically significant? How would you go about testing this hypothesis? Match each question to the correct option. A. 3.84 v What is the null hypothesis for this test? B. Ho: B1 + B2 = 0 v What is the alternative hypothesis for this test? v What is the appropriate test? C. Hoi B1=0 What is the appropriate critical value? Assume a 5% level of significance. D. H1: At least one of ß1 and/or B2#0 E. 1.96 F. H1: B1#B2#0 G. Ho: B1=B2=0 H. 3.00 1. Ho: At least one of ß1 and/or B2#0 J. H1: B1#0

Using column (4), is the overall effect of size on price statistically significant? How would you go about testing this hypothesis? Match each question to the correct option. A. 3.84 v What is the null hypothesis for this test? B. Ho: B1 + B2 = 0 v What is the alternative hypothesis for this test? v What is the appropriate test? C. Hoi B1=0 What is the appropriate critical value? Assume a 5% level of significance. D. H1: At least one of ß1 and/or B2#0 E. 1.96 F. H1: B1#B2#0 G. Ho: B1=B2=0 H. 3.00 1. Ho: At least one of ß1 and/or B2#0 J. H1: B1#0

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 41RE: For the following exercises, consider the data in Table 5, which shows the percent of unemployed in...

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