# Page 552 Problem 1

1. Explore the relationship between the selling prices ( Y) and the appraised values ( X) of the 148 homes in the file P02_ 11. xlsx by estimating a simple linear regression model. Interpret the standard error of estimate s e and R2 and the least squares line for these data.
a. Is there evidence of a linear relationship between the selling price and appraised value? If so, characterize the relationship. Is it positive or negative? Is it weak or strong?
b. For which of the three remaining variables, the size of the home, the number of bedrooms, and the number of bathrooms, is the relationship with the home’s selling price stronger? Justify your choice with additional simple linear regression models.

2

>Source

This is fictitious data.

## Data

,

0

1,

0

5

2

8,9

0,

0

00

4 4

3

0,

0

,

0

0

3 3

4

,700

,3

0

3 3

5

,300

,200

2 3

6

,0

,

0

10

3 2

7

,4

,

0

0

3 3

8

0

,590

3 4

9

,

0

,

0

0

4 4

10

,050

,250

2 3

11

,

0

3 3

12

0

,800

0

3 4

13

,

0

,060

1670 3 4

14

,040

,470

0

3 3

15

,010

,120

0

2 1

16

0

0

0

3 4

17

,

0

,

0

4 5

18

,300

,140

0

3 4

,230

0

2 3

20

0

,140

4 3

21

,

0

2 3

22

,610

4 4

23

0

,610

0

2 2

24

,050

0

4 3

25

0

4 3

26

,550

0

0

5 4

27

,500

5

4 4

28

,360

,990

3 3

29

,650

1650 3 3

30

2 2

,270

0

4 3

32

,860

4 4

,

0

3 3

34

,530

0

2 1

35

,070

0

3 4

36

,570

0

3 4

37

0

2 3

38

0

1700 3 2

39

4 4

40

,330

1590 2 2

41

0

3 2

42

3 2

43

0

,030

5 6

44

4 4

45

1730 2 1

46

,170

0

2 2

47

0

4 4

48

,

0

0

3 3

49

,

0

4 3

50

,930

,410

2 3

51

1700 3 3

52

2 3

53

1910 3 3

54

1610 2 1

55

,

1470 2 1

56

,540

3 4

57

1650 2 2

58

2 1

59

4 5

60

2 1

61

3 3

62

0

3 4

,340

2 1

64

0

3 4

65

1780 3 2

2 1

67

2040 4 4

68

5 4

69

2170 4 3

70

0

2 3

71

3 2

72

0

0

2 1

73

2100 5 6

74

1610 2 2

75

1950 4 4

76

5 4

77

0

3 2

78

,720

1920 4 4

79

1920 4 3

80

2 1

81

2 1

82

1650 3 2

83

4 5

84

3 4

85

1820 3 4

86

3 2

87

,070

1460 2 1

88

1530 3 2

89

2 3

90

1950 3 2

91

3 2

92

2050 4 4

93

3 2

1540 2 3

95

3 4

96

,830

2 1

97

3 4

98

,040

1700 3 3

99

4 5

100

1850 3 4

101

2 3

2 1

4 5

104

1890 4 4

105

133,270 1640 2 3

106

2070 3 3

107

1810 3 2

1460 2 1

109

1410 2 2

110

4 3

111

,890

3 4

112

3 3

113

1930 3 3

114

1930 4 5

115

1820 3 4

116

1480 2 1

117

1600 2 1

118 136,890

1880 3 2

119

1780 3 2

120

1920 3 2

121

1830 4 3

122

1470 2 3

123

3 4

124

1930 4 5

125

2 3

126

1530 2 2

127

2030 5 6

128

1830 3 3

129

2070 3 4

130

2 3

131

1580 3 2

132

3 4

133

1810 4 5

134

3 2

135

1890 3 3

136

1640 2 1

137

147,530

4 4

138

1730 3 3

139

4 3

140

1750 4 5

141

1660 3 3

142

5 6

143

1700 2 3

144

1660 3 4

145

4 5

146

1430 2 2

147

1710 4 5

148

1580 2 1

 House Appraised Value Selling Price Square Feet Bedrooms Bathrooms 1 11 9 3 7 12 8 70 20 5 4 14 30 15 25 22 13 39 122 78 1 59 1 35 1 44 50 18 6 1 26 1 16 12 10 1 37 80 139 49 17 1 23 90 115 73 1 67 150, 83 1 40 1780 123 48 120 29 1 52 1 32 1 47 1830 148 21 152,2 60 1700 139, 53 144 1 72 114 34 107 140 147 1 65 1 36 135 1 61 140, 93 140, 24 1 57 132 42 129 89 1650 118 121 1 64 19 122,140 111 142 149, 82 1 45 2070 1 28 91 139,010 1610 134 129,340 1910 121, 99 113 1 41 150,500 141 1 86 142, 87 152,900 1990 1 55 157, 79 2 27 128 135,570 1 96 1 43 1 51 1820 119 120,530 122,570 118,640 1470 31 145 149,510 1 85 149,730 1 46 2170 33 147,700 143 88 1930 117 118,520 1 38 140, 130 146 1 81 136 135,350 1 76 130,440 121, 54 1530 118,130 132, 98 130,980 147,530 1980 131 128,490 141, 100 141,930 1 74 117,870 123,550 1730 160, 58 1 62 2100 151,100 157,390 2040 120,150 114,550 133 139,540 1 68 140,160 149, 92 2050 124 56 122,080 1 75 127 97 136,510 1870 101 109 1330 131,470 127,290 121,270 120,450 1460 143,550 151,960 136,890 132,540 106 110 114,330 137 141,320 1810 134,330 83,760 127,590 118,200 1520 137,440 140,200 1920 114,090 113,550 1410 145,460 156,520 2030 141,900 137,350 1 95 63 116 110,610 1340 149,200 153, 69 1850 141,810 153,330 66 116,440 111,950 1440 137,740 143,460 144,700 142,130 2160 149,660 155,460 118,170 135,440 1 71 137,660 127,300 1640 119,700 113, 77 138 143,120 141,110 129,910 130,080 141,780 139,350 159,190 160,030 2080 156,130 152, 84 1960 126 122,270 133,220 145,880 118,090 115,470 1490 141,630 135,720 1600 138,560 136,160 134,100 144,920 1890 132,240 131,290 1620 145,820 138,530 127,150 124,050 1750 105 107,900 127,200 123,450 111,560 111,700 1540 150,410 145,140 129,150 120,440 1480 130,310 136,870 129,230 140,300 1660 94 105,060 113,780 134,210 141,230 1720 109,250 104 1400 127,350 118,790 1578 104,010 112 133,940 137,270 1880 141,130 145,710 136,530 138,380 1430 102 118,040 109,460 1390 103 153,700 144,680 2130 126,310 133,270 134,020 141,560 150,380 142,960 135,260 108 118,530 112,600 121,590 114,230 146,400 153,240 2190 141,250 125 1580 130,730 135,620 1840 132,650 138,820 125,570 129,430 125,740 136,450 120,220 126,740 128,290 130,090 132,680 142,430 142,890 119,310 127,040 120,370 131,450 118,830 114,570 124,490 129,560 1690 140,570 149,550 133,620 140,820 1970 105,050 111,550 147,090 142,760 115,430 124,250 125,370 132,320 115,970 121,450 1630 125,210 132,450 130,370 135,830 1760 119,750 125,760 120,930 125,840 1710 126,800 135,320 118,820 120,140 144,080 2010 142,490 144,940 140,550 136,010 1770 130,360 119,330 124,270 131,150 167,730 172,360 2510 129,190 137,170 125,180 124,710 157,510 148,650 2110 126,670 128,520 137,570 132,020 133,460 128,030
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