Statistics - Quantitative Desicion
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The following data give the selling price, square footage, number of bedrooms, and age of houses that have sold in a neighborhood in the last 6 months. Develop a regression model to predict selling price based on the square footage, number of bedrooms, and age. Use this to predict the selling price of a 10 year old, 2000 square foot house with 3 bedrooms.
Selling price Square Footage Bedrooms Age
64000 1670 2 30
59000 1339 2 25
61500 1712 3 30
79000 1840 3 40
87500 2300 3 18
92500 2234 3 30
95000 2311 3 19
113000 2377 3 7
115000 2736 4 10
138000 2500 3 1
142500 2500 4 3
144000 2479 3 3
145000 2400 3 1
147500 3124 4 0
144000 2500 3 2
155500 4062 4 10
165000 2854 3 3
[See the attached question file.]
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The expert examines quantitative decisions are determined. Neat and step-wise solution and regression model is provided.
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