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Use the following information to answer questions 16-17. Suppose you would like to sell your existing single-family house and build a new one. In order to analyze the market your realtor gathers information on a sample of n=63 houses sold in the area over the past 12 months. Definitions and units of measurement for each variable are shown below price (Y) price of the house in thousands of dollars sqft – the size of the house in number of finished square feet rooms – the number of rooms in the house bedrooms – the number of bedrooms age – age in months The regression output is shown below: Call: lm(formula = houseprice$price ~ houseprice$sqft + houseprice$rooms + houseprice$bedrooms + houseprice$age) Residuals: Min 1Q Median 3Q Max -41.768 -9.543 -1.991 6.582 82.272 Coefficients: Estimate Std. Error t value Pr(>|t|) (Intercept) 10.367616 11.498460 0.902 0.370971 houseprice$sqft 0.050011 0.008104 6.171 7.11e-08 *** houseprice$rooms 6.321779 2.527990 2.501 0.015242 * houseprice$bedrooms -11.103163 5.868381 -1.892 0.063482 . houseprice$age -0.431865 0.109706 -3.937 0.000224 *** — Signif. codes: 0 ‘***’ 0.001 ‘**’ 0.01 ‘*’ 0.05 ‘.’ 0.1 ‘ ’ 1 Residual standard error: 18.96 on 58 degrees of freedom Multiple R-squared: 0.7257, Adjusted R-squared: 0.7068 F-statistic: 38.37 on 4 and 58 DF, p-value: 1.121e-15
Read DetailsA small tech startup recently released a new smartwatch call…
A small tech startup recently released a new smartwatch called PulseOne. Shortly after the product announcement, a blogger named Kevin—who had never used the product—quickly registered the domain www.pulseonewatch.com and created a simple webpage. As sales for PulseOne grew and the brand gained popularity, the startup’s marketing team was surprised and frustrated to discover that the domain name matching their product was already taken. When the company reached out to Kevin to request ownership of the domain, he refused and instead asked them to pay him for it. Kevin is engaging in _____.
Read DetailsA group of real estate agents is building a website to promo…
A group of real estate agents is building a website to promote their new property listings. They want potential buyers to find their site naturally through Google searches—without having to pay for placement in the results. In doing so, the team is working on _____.
Read DetailsIn the regression output below, raterInterest is a dependent…
In the regression output below, raterInterest is a dependent variable while quality, helpfulness, clarity, easiness are factors that explain raterInterest. lm(raterInterest ~ quality + helpfulness + clarity + easiness, data= Rateprof) Coefficients: (Intercept) quality helpfulness clarity easiness 2.26765 0.04166 0.16980 0.13401 -0.06248 For the multiple regression model shown above, the correct equation of least-squares line is:
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