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To predict the price of a home in Ulster County, NY data on the following factors...

To predict the price of a home in Ulster County, NY data on the following factors (number of bathrooms, the square footage of the house, and the age of the house (yrs) were collected. A regression analysis is given below.

ANOVA
df SS MS F
Regression 3 899875 299958.4
Residual 24 151882 6328.4
Total 27 1051757
P-value
Intercept 0.004
Bathrooms 0.995
Sq. ft. 0.000
Age (yrs) 0.040

Name the variables that are influential at the 0.05 level.

The following questions pertain to the overall significance of the variables on annual snowfall.

Compute the test statistic F (1 decimal place)

Name the critical value

Draw a conclusion regarding the overall significance of the variables on a annual snowfall

math   Statistics-And-Probability   
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Answer #1

i)

P-values of the square footage of the house and the age of the house (yrs) are less than 0.05. then these two are influential at 0.05 level

ii)

F = MS_Regreession / MS_error = 299958.4/6328.4 = 47.39877

F critical at 0.05 level of significance and (df_Regression, df_error) = (3, 24) is equals to 3.008787

as the F > F_critical then we reject H0 that implies overall variables are significant

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