The information below is a regression output examining the relationship between
ID: 3268593 • Letter: T
Question
The information below is a regression output examining the relationship between residential sales prices, measured in dollars "sold_price" and the homes square footage "approx_sqft". Answer the following questions based off the information.d) Given these regression results, what are the values of the F-test and the t-test? e) Can you reject your null hypothesis? f) Write the equation of the line your results represent. reg sold price approx_sqft Source I df MS Number of obs3849 F( 1, 3847)= 9700.39 Prob > R-squared Adj R-squared 0.7160 Root MSE 1 6.5211e+14 Residual 2.5861e+14 3847 6.7225e+10 0.0000 -0.7160 Model I 6.5211e+14 Total 9.1072e+14 38482.3667e+11 -2.6e+05 sold price Coef.Std. Err P>It (95% Conf. Interval] 293.0231 -299686 approx sqftI287.304 2.917071 98.49 0.000 281.5848 cons-318043.9 9363.475 -33.97 0.000 -336401.7
Explanation / Answer
d. Value of F test statistic = 9700.39
Value of t test statistic = 98.49
e. Since the p - value corresponding to F test or t test is 0, we will reject the null hypothesis.
f. Equation of line:
sold_price = -318043.9 + 287.304 (approx_sqft)
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