The following 4 Problems are based on this information
The following EXCEL output produces the analysis of variance, regression coefficients, standard errors and t-tests for a simple linear regression:
What is the most precise statement we can conclude at the =0.05 significance level with respect to the linear association between Y and X?
a) There is no association between X and Y
b) There is an association, but we cannot determine the direction
c) There is a positive associaton
d) There is a negative association
Give the fitted (predicted) value when X=12.
a) 41.7 b) 9.6 c) 51.3 d) 426.6 e) 137.7
Give the estimated residual standard error (deviation), S.
a) 2.25 b) 0.19 c) 5.39 d) 465 e) 29
What proportion of the variation in Y was “explained” by the regression model?
a) .9940 b) .0060 c) .19 d) .0000 e) 2659
3. A realtor is interested in the determinants of home selling prices in his territory. He takes a random sample of 36 homes that have sold in this area during the past 18 months, observing: selling PRICE (Y), AREA (X1), BEDrooms (X2), BATHrooms (X3), POOL dummy (X4=1 if Yes, 0 if No), and AGE (X5). He fits the following models (predictor variables to be included in model are given for each model):