Share
Explore BrainMass

Regression of MedIncome

a. Perform a simple regression using MedIncome as the explanatory variable for Sale/Sq Ft. Assess the model by performing the test of significance on the slope, determining and interpreting R-sq and briefly assessing the standard error of the estimate.
b. Perform a simple regression using MedAge as the explanatory variable for Sale/Sq Ft. Assess the model by performing the test of significance on the slope, determining and interpreting R-sq and briefly assessing the standard error of the estimate.
c. Which explanatory variable is the better predictor of sales per square feet? Support your answer by citing the appropriate diagnostic statistics. Interpret the slope of the better predictor.

See attached for data.

Attachments

Solution Preview

a.
ANOVA
df SS MS F Significance F
Regression 1 702.4837467 702.4837467 0.036808961 0.848394582
Residual 72 1374090.111 19084.58487
Total 73 1374792.595

Coeff. Stand. Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Intercept 431.1 58.9 7.3 ...

Solution Summary

The solution discusses the regression of MedIncome.

$2.19