QUESTION 23 A realtor used the regression model, y betao beta1x1 beta2x2 epsilon

Question

QUESTION 23 A realtor used the regression model, y betao beta1x1 beta2x2 epsilon, to predict selling prices of homes (in thousands of $0. The variable x1 represents the home size (square feety and x2 represents the number of bedrooms. The following infomation is available ANOVA SS MS Regression 2 6101.6 2196 Total Standard Error t statistic Coefficient Intercept 25.28 22.88 size 0.12352 2435 Bedrooms 20.183 301 6.697 What is the percentage of wariation inthe selling price explained by the regression equation? About 96% About 99% About 76% About 90% QUESTION 24 A realtor used the regression model. y betao tr bata1x1 +beta2x2 epsilon. to predict selling prices of homes iin thousands of The variable x1 represents the home size (square feet) and x2 represents the number of bedrooms. The following infomation is available ANOVA. Sourc SS MS Regression 2 61016 219.6 Total Standard Error tstatistic Coef Intercept 26.28 22.88 size 0.12352 507 2435 Bedrooms 20.183 6.69 If you conduct a test for the overall significance of the model, the value of the F test statistic is About 95 About 111 About 5.07 About 27.45

Explanation / Answer

Q 23

R2 = Explained variation/Total variation = 6101.6/(6101.6+ 219.6) = 0.9652= 96.52%

Answer is About 96%

Q24.

F = (SSR/2)/(SSE/8) = (6101.6/2)/(219.6/8) = 3050.8/27.45 = 111.14

Answer About 111

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