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Regression analysis of real estate data

Refer to the data included in the Excel file, which report information on homes sold in the Somewhere, USA, during a recent year. Use the selling price of the home as the dependent variable and determine the regression equation with number of bedrooms, size of the house, whether there is a pool, whether there is an attached garage, distance from the center of the
city, and the number of bathrooms as independent variables.

i) Construct a 95% confidence interval estimate of the population slope between selling price and each of the following variables: number of bedrooms, size in sq. ft., distance to CBD, and number of bathrooms.
j) Compute and interpret the coefficients of partial determination.
k) Predict the selling price of a 2,500 square feet house that has 5 bedrooms, 3 bathrooms,
a 3-car attached garage, no pool, and is at 18 miles from the city center.
l) Rerun the analysis until only significant regression coefficients remain in the analysis. Identify these variables.


Solution Summary

The solution provides step by step method for the calculation of regression model . Formula for the calculation and Interpretations of the results are also included.