This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A real estate magazine reported the results of a regression analysis designed to predict the price ... (Read 87 times)

natalie2426

  • Hero Member
  • *****
  • Posts: 524
on: Jan 16, 2020
A real estate magazine reported the results of a regression analysis designed to predict the price (y), measured in dollars, of residential properties recently sold in a northern Virginia subdivision. One independent variable used to predict sale price is GLA, gross living area (x), measured in square feet. Data for 157 properties were used to fit the model, E(y) = β0 + β1x. The results of the simple linear regression are provided below.
y = 96,600 + 22.5x   s = 6500   R2 = 0.77   t = 6.1 (for testing β1)
Interpret the value of the coefficient of determination, R2.
◦ There is a moderately strong positive correlation between sale price (y) and GLA (x).
◦ 77% of the total variation in the sample sale prices can be attributed to the linear relationship between GLA (x) and (y).
◦ GLA (x) is linearly related to sale price (y) 77% of the time.
◦ 77% of the observed sale prices (y's) will fall within 2 standard deviations of the least squares line.
Statistics: Informed Decisions Using Data ¦ Sullivan ¦ 5th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by natalie2426 on Jan 16, 2020

jasonq

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jan 16, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


natalie2426

  • Member
  • Posts: 524
Reply 2 on: Jan 16, 2020
:D TYSM

jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Results from sequential study of two cohorts tested at three ages and at three different points in t Results from sequential study of two cohorts tested at three ages and at three different points in t
Monitoring and Following Up on Laboratory Test Results Monitoring and Following Up on Laboratory Test Results
Snap-ring pliers are also called lock-ring pliers, and they are designed to remove internal and ... Snap-ring pliers are also called lock-ring pliers, and they are designed to remove internal and ...
Replication fork regression as a likely response to a blocking DNA lesion Replication fork regression as a likely response to a blocking DNA lesion
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Prove that each of the following real functions f has a discontinuity. For each function, ... Prove that each of the following real functions f has a discontinuity. For each function, ...
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library