[solution] »

Here is the summary output from a regression equation.  It is being used to attempt to predict th

Description

Answer Download

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

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

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

d.    What is the regression equation?

e.  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?

a:

 

Blank 1:

 

Total degree of freedom: 59

 

So total number of observations: 59+1 = 60

 

Blank 2:

 

Degree of freedom of residual:

 

df-residual = 59 -3 = 56

 

Blank 3:

 

MS-regression = SS-regression /...

 

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 21, 2019

EXPERT

Tutor

ANSWER RATING

BEST TUTORS

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

• As a reference for in-depth understanding of the subject.
• As a source of ideas / reasoning for your own research (if properly referenced)
• For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).

This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

STUCK WITH YOUR PAPER?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.