Purchase Solution

Multiple Regression Model for a Real Estsate Broker

Not what you're looking for?

Ask Custom Question

You are a real estate broker who wants to compare property values in Glen Cove and Roslyn. Make sure to include dummy variable for location in the regression model
a. Develop the most appropriate multiple regression model to predict appraised value.
b. What conclusions can you reach concerning the differences in appraised valued between Glen Cove and Roslyn?

* Data set attached

Purchase this Solution

Solution Summary

The solution provides a step-by-step method for the calculation of regression analysis. The formula for the calculation and interpretations of the results are also included.

Solution Preview

Please see the attachments for the full solutions.


a. Develop the most appropriate multiple regression model to predict appraised value.
The most appropriate regression model is given by,
Appraised value = 23.3975 + 347.0222 * Property Size + 0.1061 * House Size - 0.7921 * Age + 26.3834 * Baths + 57.7386 * Glen Cove + 213.4575 * Roslyn
(see attachment for table)

The regression coefficients can be interpreted as follows:
For a unit increase in Property Size, the Appraised value increases by 347.0222 ...

Purchase this Solution

Free BrainMass Quizzes
Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.