Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
14th Edition
ISBN: 9780137400119
Author: MARK BERENSON, David Levine
Publisher: PEARSON+
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Chapter 15, Problem 35PS
You are a real estate broker who wants to compare property values in Glen Cove and Roslyn (which are located approximately 8 miles apart). Use the data in GCRosyln. Make sure to included the dummy variable for location (Glen Cove or Roslyn) in the regression model.
a. Develop the most appropriate multiple regression model to predict fair market value.
b. What conclusions can you reach concerning the difference in fair market value between Glen Cove and Roslyn?
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Spring is a peak time for selling houses. The file SpringHouses contains the selling price, number of bathrooms, square footage, and number of bedrooms of 26 homes sold in Ft. Thomas, Kentucky, in spring 2018 (realtor.com website)
Click on the datafile logo to reference the data.
DATA file
a. The Excel output for the estimated regression equation that can be used to predict the selling price given the number of bathrooms, square footage, and number of bedrooms in the house:
SUMMARY OUTPUT
Multiple R
R Square
Adjusted R Square
Standard Error
Observations
ANOVA
Regression statistics
Regression
Residual
Total
Multiple R
R Square
ANOVA
Adjusted R Square
Standard Error
Observations
0.7429
0.5519
0.4907
61948.6931
Regression statistics
Regression
Residual
Total
df
Intercept
Sq Ft
Beds
Lower 95%
0.9353 -145129.5298
Intercept
Baths
0.9528 -49383.5243
0.0180
Sq Ft
Beds
0.0326
Does the estimated regression equation provide a good fit to the data? Explain. Hint: If R is greater than 45%, the…
Q3. A simple linear regression model can be used to mitigate a confounding.
a. YesB. NoC. None of the above
The hiring managers want to compare three different employment sources: Newspaper/Magazine, CareerBuilder, and Monster.com. Perform simple regressions as you did above predicting allocations for month 13 for those three employment sources. Which of the following statements would be the best conclusion from your analysis?
Group of answer choices
The model R-square for Monster.com is the highest R-square value of the three platforms. Therefore, management will likely provide the most funding for that platform, and we should focus on that above the other two.
The models for Monster.com and Newspaper/Magazine are both significant, which means we should focus on these two platforms over CareerBuilder because management will likely provide us the most funding for those two platforms.
The predicted monthly amount for CareerBuilder is lower than the predicted amount for Newspaper/Magazine. Therefore, they should expect the lowest amount of funding for CareerBuilder out of all of the…
Chapter 15 Solutions
Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
Ch. 15 - The following is the quadratic regression equation...Ch. 15 - Business actively recruit business student with...Ch. 15 - A study was conducted on automobile engines to...Ch. 15 - Prob. 4PSCh. 15 - In the production of printed circuit boards,...Ch. 15 - An automotive sales manager wishes to examine the...Ch. 15 - Researchers wanted to investigate the relationship...Ch. 15 - Prob. 8PSCh. 15 - Prob. 9PSCh. 15 - Prob. 10PS
Ch. 15 - Using the data of Problem 15.4 on page 600, stored...Ch. 15 - Using the data of Problem 15.6 on page 601, stored...Ch. 15 - Using the data of Problem 15.6 on page 601 stored...Ch. 15 - If the coefficient of determination between two...Ch. 15 - If the coefficient of determination between two...Ch. 15 - Prob. 16PSCh. 15 - Refer to Problem 14.5 on page 542. Perform a...Ch. 15 - Refer to Problem 14.6 on page 542. Perform a...Ch. 15 - Refer to Problem 14.7 on page 542. Perform a...Ch. 15 - Refer to Problem 14.8 on page 542. Perform a...Ch. 15 - Prob. 21PSCh. 15 - Prob. 22PSCh. 15 - Prob. 23PSCh. 15 - You need to develop a model to predict the asking...Ch. 15 - Accounting Today identified top public accounting...Ch. 15 - How can you evaluate whether collinearity exists...Ch. 15 - Prob. 27PSCh. 15 - Prob. 28PSCh. 15 - A Specialist in baseball analytics has expanded...Ch. 15 - In the production of printed circuit boards,...Ch. 15 - Hemlock Farms is a community located in the Pocono...Ch. 15 - Prob. 32PSCh. 15 - Prob. 33PSCh. 15 - Prob. 34PSCh. 15 - You are a real estate broker who wants to compare...Ch. 15 - You are a real estate broker who wants to compare...Ch. 15 - Financial analysts engage in business valuation to...Ch. 15 - Prob. 38PSCh. 15 - A molding machine that contains different cavities...Ch. 15 - The file Cites contains a sample of 25 cities in...Ch. 15 - In problem 15.32-15.36 you developed multiple...
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