Question

The following data was collected to explore how the number of square feet in a house, the number of bedrooms, and the age of the house affect the selling price of the house. The dependent variable is the selling price of the house, the first independent variable (x1x1) is the square footage, the second independent variable (x2x2) is the number of bedrooms, and the third independent variable (x3x3) is the age of the house.

Effects on Selling Price of Houses

Square Feet	Number of Bedrooms	Age	Selling Price
10401040	22	44	104100104100
10781078	33	44	120200120200
15341534	44	88	124300124300
16631663	44	99	138700138700
19801980	44	99	168700168700
22732273	44	1010	184100184100
23092309	44	1212	236200236200
27602760	44	1313	277600277600
29182918	55	1515	298400298400

Copy Data

Step 1 of 2 :

Find the p-value for the regression equation that fits the given data. Round your answer to four decimal places.

Answer 1

SUMMARY OUTPUT
Regression Statistics
Multiple R	0.97346
R Square	0.947625
Adjusted R Square	0.9162
Standard Error	2.07E+10
Observations	9
ANOVA
	df	SS	MS	F	Significance F
Regression	3	3.87E+22	1.29E+22	30.15531	0.001255
Residual	5	2.14E+21	4.28E+20
Total	8	4.09E+22
	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	3.98E+10	3.94E+10	1.010179	0.358768	-6.1E+10	1.41E+11	-6.1E+10	1.41E+11
Square Feet	7219.377	4129.215	1.748366	0.140819	-3395.11	17833.86	-3395.11	17833.86
Number of Bedrooms	-5.1E+08	1.61E+09	-0.3183	0.763124	-4.6E+09	3.62E+09	-4.6E+09	3.62E+09
Age	40206940	32240727	1.247085	0.267597	-4.3E+07	1.23E+08	-4.3E+07	1.23E+08

p value=0.0013 (answer)