### [solution] » Here is the summary output from a regression equation. It is being used to attempt to predict the

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The Question

Here is the summary output from a regression equation. It is being used to attempt to predict the value of an undeveloped lot (in thousands of dollars) on the basis of three independent variables. Use this output to answer the questions below.

 A B C D E F 1 SUMMARY OUTPUT 2 3 Regression Statistics 4 Multiple R 0.4924 5 R Square 0.2425 6 Adjusted R Square 0.2019 7 Standard Error 40.24 8 Observations (1) 9 10 ANOVA 11 df SS MS F Significance F 12 Regression 3 29,030 (3) 5.97 0.0013 13 Residual (2) 90,694 1,620 14 Total 59 (4) 15 16 Coefficients Standard Error t Stat P-Value 17 Intercept 51.39 23.52 2.19 0.0331 18 Lot Size 0.070 0.559 1.25 0.2156 19 Trees 0.679 0.229 2.96 0.0045 20 Distance -0.378 0.195 -1.94 0.0577

a. (8) What are the values for the four blank spaces in the table (the four shaded areas numbered 1-4)?

b. (6) What is the Standard error of the estimate? What is it an estimate of?

c. (5) Which of the independent variables are statistically significant (at the 5% level)? How do you know?

d. (8) What is the regression equation?

e. (8) If there are 50 trees, the lot is 2 acres and it is .5 miles from the lake, what is the value of the property?

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##### [solution] » Here is the summary output from a regression equation. It is being used to attempt to predict the.zip

This paper was answered on 14-Oct-2020

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