Real Estate Regression, statistics homework help

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Real Estate Regression, statistics homework help

Complete the Real Estate Regression Exercise Questions.

Regression:

SUMMARY OUTPUT

Regression Statistics

Multiple R – 0.639205681

R Square – 0.408583903

Adjusted R Square – 0.402549045

Standard Error – 213617.1144

Observations – 100

ANOVA

df SS MS F Significance F

Regression 1 3,089,486,315,438.38 3,089,486,315,438.38 67.70 0.000000000000825

Residual 98 4,471,962,614,775.65 45,632,271,579.34

Total 99 7,561,448,930,214.03

Coefficients Standard Error t Stat P-value
Lower 95% Upper 95% Lower 95.0% Upper 95.0%

Intercept 232837.5203 57,396.80 4.06 0.00010005608601 118,935.44 346,739.60 118,935.44 346,739.60

Square Footage 263.6011472 32.04 8.23 0.00000000000082 200.03 327.18 200.03 327.18

Covariance:

Listing Price ($) Square Footage

Listing Price ($) 75614489302

Square Footage117203067.9444622.7536

Correlation:

Listing Price ($) Square Footage

Listing Price ($) 1

Square Footage 0.6392056811

Correlation Coefficient 0.639205681

“WITH THE INFORMATION GIVE ABOVE ANSWER THE TWO QUESTIONS BELOW.”

Question Set:

(c) What proportion of the variation in listing price is determined by variation in the square footage? What proportion of the variation in listing price is due to other factors?

(d) Check the coefficients in your summary output. What is the regression equation relating square footage to listing price?

“SEE ATTACHMENT FOR A BETTER UNDERSTANDING OF WHAT IS REQUIRED FOR THE FOLLOWING QUESTIONS”