TABLE 7 A real estate builder wishes to determine how house size (House) is infl

Question

TABLE 7 A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in hundreds of square feet and income is measured in thousands of dollars. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Exoel output is provided below: Multiple R R Square Adjusted R Square Standard Error 08479 7.5571 87.7627 308.2503 Stat 10.8668 Also SSR (X11X2)-36400.6326 and SSR (X2lX1)-3297.7917

Explanation / Answer

From table 7,

The t value corresponding to size = 3.2708

Hence,

Relevant t - statistic = 3.2708

Option D is correct.

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