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A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, she knows that the most important factors affecting the price of a lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots. Use a 5% significance level for all tests. What is tri. standard error of estimate? a) 0.55 b) None of the answers are correct O c) 5.97 O d) 0.19 e) 40.24

A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, she knows that the most important factors affecting the price of a lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots. Use a 5% significance level for all tests. What is tri. standard error of estimate? a) 0.55 b) None of the answers are correct O c) 5.97 O d) 0.19 e) 40.24

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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Related questions
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Price Lot size Trees Distance
105.4 41.2 24 42
91.2 44.8 5 71
183.3 21.3 72 43
93.8 43.9 58 14
207.5 57.7 52 12
130.9 33.4 78 26
162.3 31.4 65 51
18.8 27.4 22 0
80.5 26.2 68 83
38.3 40 57 76
71.3 47.6 53 35
55.5 31.6 36 26
85.7 21.6 23 24
110.5 36.3 48 98
85.1 47.2 61 59
78.3 30.5 41 55
27.2 41.8 1 60
70.9 20.6 20 33
101.4 35.3 38 75
133.3 40.1 68 0
117.7 35.6 24 41
49.7 20.6 16 77
49.6 22.4 32 86
83.2 45.8 77 19
81.3 29.4 40 0
152.5 51.7 60 34
112.2 27.2 0 16
37.1 37 50 49
130.2 38.9 48 63
39.1 32.5 25 45
81.9 34 12 0
24.6 35.8 16 34
101.9 32.9 44 42
117.6 46.4 62 48
148.8 51.9 59 39
60.2 28.9 0 66
43.7 35.2 57 77
113.1 30.4 70 78
38.1 38.3 24 62
89.2 49.2 61 0
3 21.5 46 83
55.8 41.9 10 69
89.7 21.8 79 62
136.1 66.3 56 34
44.7 28.2 73 77
63.2 41.9 64 65
163.4 46.7 69 27
64.1 32.1 12 0
98.7 38.5 59 77
139.9 27.6 0 0
92 47 65 37
66.6 20.7 24 51
16.4 34 12 75
131.9 31.9 76 63
11 28 2 42
27.9 40 52 84
103.5 46.6 26 70
107 23.2 11 83
51.6 46.4 53 44
133.4 32.1 55 98
       
A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, she knows that the most important factors affecting the price of a lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots. Use a 5% significance level for all tests. What is tri. standard error of estimate? a) 0.55 b) None of the answers are correct O c) 5.97 O d) 0.19 e) 40.24
Transcribed Image Text:A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, she knows that the most important factors affecting the price of a lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots. Use a 5% significance level for all tests. What is tri. standard error of estimate? a) 0.55 b) None of the answers are correct O c) 5.97 O d) 0.19 e) 40.24
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