Question

• • 4.48 Rhonda Clark, a Slippery Rock, Pennsylvania, real estate developer, has devised a regression model to help determine residential housing prices in northwestern Pennsylvania. The model was developed using recent sales in a particular neighbor- hood. The price (Y) of the house is based on the size (square foot- age = X) of the house. The model is: Y = 13,473 + 37.65X The coefficient of correlation for the model is 0.63. a) Use the model to predict the selling price of a house that is! 1,860 square feet. b) An 1,860-square-foot house recently sold for $95.000. Explain why this is not what the model predicted.

Please provide hand-written explanation

Answer 1

Solcetioni Given data n=8 P=.0.445 XN Bimonial (8:0.45) PCX) = (3) px q»-* .ae. what is the probability that at least three of the professors in the scemple cort Extroverts P (133) 5Cx (0-45) (0-53784 10-9799] please give me thumbs up

. The selling price predicted is the evercege price of the house. If the house is sold for $95,000 then it means that the other factors had contributed value this difference is high due to high varicence of correlation. C) the following are the quantitative variable considered while buying a house • Number of living rooms in the house • size of the lot. • Size of garcege. e size of

• Locality and computation to cities • Life of the building. To determine the colchicierst of determination Coefficient of variance (8)=0.63 Coefficient of determination (yn = 0.63 x0.63 = 0: 3969 Hence the coefficient of determinalion Gorj is 0.39697