A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, O for no), and the total years of education beyond high school for the husband and wife. The sample information is reported below. Family Square Feet 1 2 3 4 5 6 7 8 9 10 2,300 2,300 3,400 3,360 3,000 2,900 4,100 2,500 4, 200 2,800 Income (000s) 60.8 68.4 104.5 89.3 72.2 114 125.4 83.6 133 95 Family Size 2 3 3 4 4 3 5 3 5 3 Senior Parent 0 1 0 1 0 1 0 0 0 0 Education 4 6 7 0 2 10 6 8 2 6
A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, O for no), and the total years of education beyond high school for the husband and wife. The sample information is reported below. Family Square Feet 1 2 3 4 5 6 7 8 9 10 2,300 2,300 3,400 3,360 3,000 2,900 4,100 2,500 4, 200 2,800 Income (000s) 60.8 68.4 104.5 89.3 72.2 114 125.4 83.6 133 95 Family Size 2 3 3 4 4 3 5 3 5 3 Senior Parent 0 1 0 1 0 1 0 0 0 0 Education 4 6 7 0 2 10 6 8 2 6
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 22PFA
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Transcribed Image Text:A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other
variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the
family (1 for yes, 0 for no), and the total years of education beyond high school for the husband and wife. The sample information is
reported below.
Family Square Feet
1
2
3
4
5
6
7
8
9
10
2,300
2,300
3,400
3,360
3,000
2,900
4,100
2,500
4, 200
2,800
Income
(000s)
60.8
68.4
104.5
89.3
72.2
114
125.4
83.6
133
95
Family Size
2
3
3
4
4
3
5
3
5
3
Senior
Parent
0
1
0
1
0
1
0
0
0
0
Education
4
6
7
0
2
10
6
8
2
6
Transcribed Image Text:a. Develop an appropriate multiple regression equation using stepwise regression. (Use Excel data analysis and enter number of
family members first, then their income and delete any insignificant variables. Leave no cells blank - be certain to enter "0"
wherever required. R and R2 adj are in percent values. Round your answers to 3 decimal places.)
Step
Constant
Family Size
t-statistic
p-value
Income
t-statistic
p-value
S
R-Sq
R-Sq(adj)
1
0.001
2
0.007
0.015
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