Explore BrainMass

Explore BrainMass

    Multiple Regression for List Prices of Homes in the US

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    A multiple regression equation for the list price of homes in a certain community in the USA is Y'=170,000 - 850X_1 + 28,000X_2, where X_1 represents age in years and represents number of rooms.

    If a prospective buyer is interested in an older, well-constructed home about 55 years old with 10 rooms, what would be the predicted list price in that community? (Show your procedure.)

    © BrainMass Inc. brainmass.com June 3, 2020, 9:46 pm ad1c9bdddf

    Solution Preview

    Age in years = X1 = 55 yrs

    Number of rooms = X2 = 10 rooms

    Predicted ...

    Solution Summary

    Multiple regression for a prospective buyer in a community is analyzed. The solution determines the predicted list price in that community.