Question

TABLE 15-3 In Hawaii, condemnation proceedings are under way to enable private citizens to own the property that their homes are built on. Until recently, only estates were permitted to own land, and homeowners leased the land from the estate. In order to comply with the new law, a large Hawaiian estate wants to use regression analysis to estimate the fair market value of the land. The following model was fit to data collected for n = 20 properties, 10 of which are located near a cove. where Y = Sale price of property in thousands of dollars X1 = Size of property in thousands of square feet X2 = 1 if property located near cove, 0 if not Using the data collected for the 20 properties, the following partial output obtained from Microsoft Excel is shown:

SUMMARY OUTPUT

Regression Statistics Multiple R 0.985

R Square 0.970

Standard Error 9.5

Observations 20

ANOVA df SS MS F Signif F

Regression 5 28324 5664 62.2 0.0001

Residual 14 1279 91

Total 19 29063

Coeff StdError t Stat P-value

Intercept - 32.1 35.7 – 0.90   0.3834

Size 12.2 5.9 2.05 0.0594

Cove – 104.3 53.5 – 1.95 0.0715

Size*Cove 17.0 8.5 1.99 0.10461

SizeSq – 0.3 0.2   – 1.28    0.2204

SizeSq*Cove – 0.3 0.3 – 1.13 0.2749

There is a significant intercation between Size and Cove at an alpha of .05.

Question 7 options: True False

Referring to Table 15-3, is the overall model statistically adequate at a 0.05 level of significance for predicting sale price (Y)?

Question 15 options:

a	Yes, since the p-value for the F-test is smaller than 0.05.
b	No, since the standard deviation of the model is fairly large.
c	No, since some of the t tests for the individual variables are not significant.
d	No, since the p-value for the F-test is larger than 0.05.

What is the slope for the independent variable Size and is it significant at an alpha of .05?

Question 18 options:

a	12.2, no
b	2.05, no
c	12.2, yes
d	2.05, yes

What is the correlation between Y and the predicted-Y?

Question 21 options:

a	9.5
b	.92
c	.8464
d	.974

Answer 1

ANSWER:

Question 15:

The above data is used to to obtained correct choice is

OPTION (a) is correct answer.

Yes, since the p-value for the F-test is smaller than 0.05.

By using given values are P

Question 18 :-

By using given values are P-value is 0.0394 and significance value is 0.05 .

Compared both values then result is 0.0394<0.05.

p-value is less than alpha value at 0.05 .

Hence it is significant at the alpha equal to 0.05.

Option (c) is correct answer.

12.2, yes.

• Due to insufficient time , i will not answer question 21.

please send separate question , i will answer it

Thank you !