Concept explainers
Hemlock Farms is a community located in the Pocono Mountains area of eastern Pennsylvania. The file HemlockFarms contains information on homes that were recently for sale. The variables included were
List Price-Asking price of the house
Hub Tub- Whether the house has a hot tub, with
Lake View- Whether the house has a lake view, with
Bathrooms-Numbers of bathrooms
Bathrooms-Numbers of bathrooms
Loft/Den-Whether the house has a loft or den, with
Finished basement-Whether has house has a finished basement, with
Acres- Number of acres for the property
Develop the most appropriate multiple regression model to predict the asking price. Be sure to perform a through residual analysis. In addition, provide a detailed explanation of your results.
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