Linear Regression
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1. Refer to the Real Estate data, which reports information on homes sold in Venice, Florida, last year (see attached spreadsheet). Let selling price be dependent variable and size of the home the independent variable.
a. Determine the regression equation.
b. Estimate the selling price for a home with an area of 2,200 square feet.
c. Determine the 95% confidence interval.
d. Determine the 95% prediction interval for the selling price of a home with 2,200 square feet.
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Solution Summary
The solution contains the fitting of regression equation to the given set of data and determination of 95% confidence and prediction interval for the response variable...
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Regression Analysis
r² 0.138 n 105
r 0.371 k 1
Std. Error 43.955 Dep. Var. Price
ANOVA table
Source SS df MS F p-value
Regression 31,770.2044 1 31,770.2044 16.44 .0001
Residual ...
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