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 78 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
Thanks for the timely response, appreciate it

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Green tea is able to stop the scent of garlic or onion from causing bad breath.

Did you know?

Your skin wrinkles if you stay in the bathtub a long time because the outermost layer of skin (which consists of dead keratin) swells when it absorbs water. It is tightly attached to the skin below it, so it compensates for the increased area by wrinkling. This happens to the hands and feet because they have the thickest layer of dead keratin cells.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Genetic analysis begins with mutants 2 Genetic analysis begins with mutants 2
Carbon dioxide. This molecule exhibits a nonpolar bond and results in a linear and symmetrical ... Carbon dioxide. This molecule exhibits a nonpolar bond and results in a linear and symmetrical ...
Tumor marker analysis of a patient with no evidence of disease monitored for tumor recurrence. The ... Tumor marker analysis of a patient with no evidence of disease monitored for tumor recurrence. The ...
Swot analysis Swot analysis
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
A plaque assay for bacteriophage analysis A plaque assay for bacteriophage analysis
Video: Introduction to Human Immunodeficiency Virus (HIV)

For a complete list of videos, visit our video library