A realtor in Blacksburg, Virginia is using regression analysis to build a regression model for predicting the selling price of houses sold in the Blacksburg area. The selling Price (in thousands of dollars) and Size (in square feet of heated/cooled floor space) of each house was recorded and the data analyzed in Minitab. Consider the Minitab output below in answering the questions that follow the output.
Regression Equation
Price = 78.4 + 0.10780 Size
a. Name the predictor variable in this problem. (2)
b. Estimate the selling price for a house with 2,500 sq. ft. of heated/cooled floor space in
the Blacksburg area. Give your final answer in $. (3)
A realtor in Blacksburg, Virginia is using regression analysis to build a regression model for predicting...
A Realtor is interested in modeling the selling price of houses based on the square footage, the age of the house, and the style. The data was collected in the two largest cities in Arkansas and is presented in an excel file. We need two indicator variables for the style of the house. I will choose Traditional as the base category lif the house is a rambler lif the house is victorian rambler Oif not Now use Minitab output to...
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