A real estate research firm has developed a regression model relating

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Question 1

A real estate research firm has developed a regression model relating list price (Y in $1,000) with two independent variables. The two independent variables are number of bedrooms and size of the property. Part of the regression results are shown below.

ANOVA
	df	SS	MS
Regression	2	256881.37	128440.68
Residual	44	733108.20	16661.55

	Coefficients	Standard Error	t Stat
Intercept	54.298	91.326
# Bedrooms	53.634	25.271
Acres	21.458	35.630

1. What has been the sample size?

2. What is the value of the F test statistic for testing whether the regression model is significant?

3. What is the rejection rule for testing whether the regression model is significant at the 0.05 level of significance?

4. What is the value of the t test statistic for testing whether the variable Acres is significant?

Hint

StatisticsANOVA test is a way to find out if the survey or the experiment results are significant and they help to figure out if there is a need to reject the null hypothesis or accept the alternate hypothesis. Basically, the groups are being tested to see if there’s a difference between them. ANOVA is basically an analysis tool which is used in that statistics that splits an observed aggregate va...

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