MATH 533 Week 7 Homework Problems

$20.00

Contributor

Mike Mentzer

Category

Mathematices

Course

MATH 533 Applied Managerial Statistics

Institute

DeVry

Pages

5

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WEEK 7 HOMEWORK A real estate analyst has developed a multiple regression line, y = 60 + 0.068 x1 – 2.5 x2, to predict y = the market price of a home (in $1,000s), using independent variables, x1 = the total number of square feet of living space, and x2 = the age of the house in years. The regression coefficient of x2 suggests this: . Whatever be the square feet area of the living space, a 1 year increase in the age of the homes will result in a predicted drop of $2500 in the price of the homes If the square feet area of living space is kept constant, a 1 year increase in the age of the homes will result in a predicted increase of $2500 in the price of the homes If the square feet area of living space is kept constant, a 1 year increase in the age of the homes will result in a predicted drop of $2500 in the price of the homes Whatever be the square feet area of the living space, a 1 year increase in the age of the homes will result in a predicted increase of $2500 in the price of the homes The following is a partial computer output of a multiple regression analysis of a data set containing 20 sets of observations on the depen

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