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Lecture11-1 - A real estate agency collects data concerning...

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2 A real estate agency collects data concerning y = the sales price of a house (in thousands of dollars), and x = the home size (in hundreds of square feet). Sample size n = 10. SalesPrice     HomeSize 180.0              23   98.1              11 173.1              20 136.5              17 141.0              15 165.9              21 193.5              24 127.8              13 163.5              19 172.5              25
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4 Regression Analysis: SalesPrice versus HomeSize The regression equation is SalesPrice = 48.0 + 5.70 HomeSize Predictor Coef SE Coef T P Constant 48.02 14.41 3.33 0.010 HomeSize 5.7003 0.7457 7.64 0.000 S = 10.5880 R-Sq = 88.0% R-Sq(adj) = 86.5% Analysis of Variance Source DF SS MS F P Regression 1 6550.7 6550.7 58.43 0.000 Residual Error 8 896.8 112.1 Total 9 7447.5 Predicted Values for New Observations New Obs Fit SE Fit 95% CI 95% PI 1 133.53 4.39 (123.41, 143.64) (107.10, 159.96) Values of Predictors for New Observations New Obs HomeSize 1 15.0 Minitab output: Consider HomeSize = 15 (i.e., 1,500 square feet):
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5 Consider HomeSize = 15 (i.e., 1,500 square feet):
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