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    Demand for homes in Honolulu

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    The demand for homes in Honolulu is shown in the attachment. Real estate agents in Honolulu find the demand for homes are influenced by three factors, namely: the price of the home, the interest rate on mortgage, and the per capital income of the homeowners.

    1. Assess the goodness of fit
    2. Interpret the results
    3. Indicate the statistical significance of each independent variable at 5% level.

    Please see attachment and explain how to solve.

    © BrainMass Inc. brainmass.com October 10, 2019, 1:07 am ad1c9bdddf
    https://brainmass.com/economics/output-and-costs/goodness-fit-statistical-significance-example-question-321776

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    Solution Summary

    Solution provides steps necessary to calculate the goodness of fit and determine the statistical significance of each independent variable.

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