1. The data presented in ‘LodgePrices.sav’file are a random sample of records of re-sale of individual ‘Wilderness Lodging Units’from Jan – April.

Variables:

Price= Price in thousands of dollars

Sq. Feet= Size of lodge in sq. ft. living space.

Age= Age of lodge in years

Features= Number of features such as appliances (washer, dryer, refrigerator, microwave….etc.)

Using this data, answer the following:

a. What is the mean and std. deviation for:

a. Price __________________

b. SqFt. __________________

c. Age__________________

d. Features__________________

b. What is the value of correlation coefficient between the following variables and how do you interpret it:

a. Price & Sq Ft__________________

b. Price & Age__________________

c. Price & Features__________________

d. Age & Sq. Ft. __________________

e. Features & Sq.Ft. __________________

c. Draw a scatter plot of Price& SqFtand interpret it.

d. Draw a scatter plot of Priceand Ageand interpret it.

e. To analyze if there is an impact of SqFt, Age,and Featureson the Pricesof the wilderness lodges, which statistical technique you will utilize?

Run the analysis:

f. Is this model significant? Report the F & P values.

g. Which variables are significant predictors of the lodge prices? Report Pvalues.

h. What is the value of intercept or constant?

i. What is the regression equation?

j. What is the value of R-squared for this model? Interpret it.

k. Provide interpretation of all the unstandardized ‘B’ coefficients.

a. ______

b. ______

c. ______

d. ______

l. What is the predicted sales price for a 25 yrs. old wilderness lodge, having 6 features and 3000 sq. ft.?

m. Regression Diagnostics: (Show graphs/ figures in output tables and interpret these.)

a. Multicollinearity

b. Homoscedasticity

c. Normality

d. Report Durbin Watson Statistics and state what this indicates.

n. Comment on the validity of the model, in other words, can we generalize this model.