I need help with question b A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Complete parts a through c.FamilyE Click the icon to view the house sales data.House sales dataa. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term.Create a dummy variable named "Townhouse", where it is equal to 1 when Type = "Townhouse" and 0 otherwise. Determine the coefficients of the regression equation.Sales Price$114,740$138,530$149,905$172,000$183,916$189,390$191,120$198.898Lot Cost$21,700$26,550$25.550ТуреTownhouseSales Price = 108726 + ( 3.68 ) • Lot Cost + ( - 75063 ) • TownhouseSingle Family(Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.)TownhouseSingle FaminsTownhouse$26,200$46,025$28,000$36,000$46,025$46,025$40,299$37,500b. Determine if an interaction exists between lot cost and type of home and find the best model. Use a = 0.1 as the level of significanceTownhouseFirst determine whether an interaction exists. Select the correct choice below and, if necessary, fill in the answer box to complete your choice.Single FamilyhouseTownhouseO A. An interaction exists because the p-value of the variable Lot Cost • Townhouse is,which is less than aTownhouseSingle FamilySingle FamilyTownhouse$205.076(Type an integer or a decimal rounded to three decimal places as needed.)$207,821$216.205O B. An interaction exists because the p-value of the variable Townhouse is(Type an integer or a decimal rounded to three decimal places as needed.)which is greater than a.$74,400$44,198$44,344$42,099$46,000$45,650$58,000$60,000$46,850$252,800$257,000Single FamilySingle FamilyO C. An interaction exists because the p-value of the variable Lot Cost iswhich is greater than a.Single FamilySingle FamilySingle FamilyFamilySingle FamilySingle FamilySingle FamilySingle Family$270.000$270,500$273,105$279,720$296,990$303,500$309,487(Type an integer or a decimal rounded to three decimal places as needed.)O D. No interaction exists because the p-value is less than a for all of the independent variables.$314,898$321,602$326,412$339,374$339,380$340,065$356,117$361 949$41,768$83,300$63,523$71,449S50 150Single FamilySingleSingleFamilySingleFamilyS55.850FamilySingle FamilySingle FamilySingle FamilySingle$57 219$51.591$434,426$494.820$58.422$85,122PrintDone

From the given question the data of Type is converted into 1 for a Townhouse and 0 for Single Family…

A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Complete parts a through c. A Click the icon to view the house sales data. - X House sales data a. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term. Create a dummy variable named "Townhouse", where it is equal to 1 when Type = "Townhouse" and 0 otherwise. Determine the coefficients of the regression equation. Туре Townhouse Single Family $138,530 Townhouse Single Family Townhouse Townhouse Sales Price = 108726 +( 3.68 ) • Lot Cost + ( – 75063 ) • Townhouse (Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.) Sales Price $114,740 Lot Cost $21,700 $26,550 $149,905 $172,000 $183,916 $189,390 b. Determine if an interaction exists between lot cost and type of home and find the best model. Use a = 0.1 as the level of significance. First determine whether an interaction exists. Select the correct choice below and, if necessary. fillin te answer box to complete your choice. © A. An interaction exists because the p-value of the variable Lot Cost · Townhouse is . which is less than a. $25,550 $26,200 $46,025 $28,000 $36,000 $46,025 $46,025 $40.299 $37,500 Single Family $191,120 Townhouse Townhouse Single Family Single Family $216,205 Townhouse Single Family $257,000 Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family $494,820 (Type an integer or a decimal rounded to three decimal places as needed.) O B. An interaction exists because the p-value of the variable Townhouse i $198,898 $205,076 $207,821 s. which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) $252,800 $74,400 $44,198 $44,344 $42,099 $46,000 $45,650 $58,000 $60,000 $46,850 OC. An interaction exists because the p-value of the variable Lot Cost is which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) O D. No interaction exists because the p-value is less than a for all of the independent variables $270,000 $270,500 $273,105 $279,720 $296,990 $303,500 $309,487 $314,898 $321,602 $326,412 $339,374 $339,380 $340,065 $356,117 $361,949 $434,426 $41,768 $83,300 $63,523 $71,449 $50,150 $55,850 $57 219 $51,591 $58,422 $85,122 Print Done

A national homebuilder builds single-family homes and condominium-style townhouses. The accompanying dataset provides information on the selling price, lot cost, and type of home for closings during one month. Complete parts a through c. A Click the icon to view the house sales data. - X House sales data a. Develop a multiple regression model for sales price as a function of lot cost and type of home without any interaction term. Create a dummy variable named "Townhouse", where it is equal to 1 when Type = "Townhouse" and 0 otherwise. Determine the coefficients of the regression equation. Туре Townhouse Single Family $138,530 Townhouse Single Family Townhouse Townhouse Sales Price = 108726 +( 3.68 ) • Lot Cost + ( – 75063 ) • Townhouse (Round the constant and coefficient of Townhouse to the nearest integer as needed. Round all other values to two decimal places as needed.) Sales Price $114,740 Lot Cost $21,700 $26,550 $149,905 $172,000 $183,916 $189,390 b. Determine if an interaction exists between lot cost and type of home and find the best model. Use a = 0.1 as the level of significance. First determine whether an interaction exists. Select the correct choice below and, if necessary. fillin te answer box to complete your choice. © A. An interaction exists because the p-value of the variable Lot Cost · Townhouse is . which is less than a. $25,550 $26,200 $46,025 $28,000 $36,000 $46,025 $46,025 $40.299 $37,500 Single Family $191,120 Townhouse Townhouse Single Family Single Family $216,205 Townhouse Single Family $257,000 Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family Single Family $494,820 (Type an integer or a decimal rounded to three decimal places as needed.) O B. An interaction exists because the p-value of the variable Townhouse i $198,898 $205,076 $207,821 s. which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) $252,800 $74,400 $44,198 $44,344 $42,099 $46,000 $45,650 $58,000 $60,000 $46,850 OC. An interaction exists because the p-value of the variable Lot Cost is which is greater than a. (Type an integer or a decimal rounded to three decimal places as needed.) O D. No interaction exists because the p-value is less than a for all of the independent variables $270,000 $270,500 $273,105 $279,720 $296,990 $303,500 $309,487 $314,898 $321,602 $326,412 $339,374 $339,380 $340,065 $356,117 $361,949 $434,426 $41,768 $83,300 $63,523 $71,449 $50,150 $55,850 $57 219 $51,591 $58,422 $85,122 Print Done

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.FOM: Focus On Modeling: Fitting Lines To Data

Problem 10P

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