Below is StatCrunch output showing the regression of the number of acres a home
ID: 3382846 • Letter: B
Question
Below is StatCrunch output showing the regression of the number of acres a home sits on and the value of the home. What is the appropriate p-value to test if the slope is significantly different from zero (i.e. if there a significant linear relationship between acreage and value)?
Simple linear regression results:
Dependent Variable: Total $
Independent Variable: Acres
Total $ = 168612.4 + 84536.84 Acres
R (correlation coefficient) = 0.2378
R-sq = 0.056531586
Parameter estimates:
Parameter
Estimate
Std.
Err.
Alternative
DF
T-Stat
P-Value
Intercept
168612.4
18017.02
0
96
9.358507
<0.0001
Slope
84536.84
35247.516
0
96
2.3983774
0.0184
Select one:
<0.001
0.0092
0.0184
0.9908
There is not enough information given to determine the p-value.
Parameter
Estimate
Std.
Err.
Alternative
DF
T-Stat
P-Value
Intercept
168612.4
18017.02
0
96
9.358507
<0.0001
Slope
84536.84
35247.516
0
96
2.3983774
0.0184
Explanation / Answer
Below is StatCrunch output showing the regression of the number of acres a home
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