A Real Estate Agent wishes to see if home prices can be accurately predicted fro

Question

A Real Estate Agent wishes to see if home prices can be accurately predicted from the square footage of a house, the number of rooms a house has, the age of the house, and the location of the house (either north, south, east or west) the regression The conclusion for the overall (global) test of the regression model at the 5% a-level is: Since p-value is smaller than a the overall model is not significant Since p-value is smaller than a the overall model is significant Since p-value is larger than a the overall model is not significant

Explanation / Answer

The answer is 3, Since p-value is smaller than a the overall model is significant.

Since p-value (0.011396993) is smaller than a (significance level = 0.05), atleast one of the coefficients of the regression model is not zero and significant variation in the home prices is explained by the regression model, which implies that the regression model is significant.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.