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HOUSE3_explanation

# HOUSE3_explanation - Regression Analysis Regression...

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Regression Analysis Regression Statistics Multiple R 0.9005871774 R Square 0.8110572641 Adjusted R Square 0.7795668081 Standard Error 2.2625959537 Observations 15 ANOVA df SS MS F Significance F Regression 2 263.703914605 131.8519573 25.755653214 4.549684E-005 Residual 12 61.4320853951 5.1193404496 Total 14 325.136 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 50.090488989 4.3516579445 11.5106678 7.67943E-008 40.60904084 59.571937138 Size X1 16.18583395 2.5744417052 6.2871238901 4.02437E-005 10.5766073383 21.79506056 Fireplace X2 3.8529824834 1.2412226894 3.10418309 0.0091188538 1.1485905664 6.5573744004 The regression equation is Yi = 50.0905 + 16.1058 X1i +3.8530 X2i It is intrepreted as Holding constant whether a house has a fireplace, for each increase of 1 thousand sqft in the size of the house, the mean assesed value is estimated to increase by \$16.1058 * 1000 1. For the house without firplace, X2 = 0, the regression equation is Yi = 50.0905 + 16.1058 X1i 2. For the house with firplace, X2 = 1, the regression equation is Yi = 50.0905 + 16.1058 X1i +3.8530 Yi = 53.9435 +16.1058X1i It is intrepreted as Holding constant the size of the house, the presence of the firplace is estimated to increase the mean assesed value of the house by \$ 3.8530 *1000

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Regression Analysis Regression Statistics Multiple R 0.917906505 R Square 0.842552352 Adjusted R Square 0.7996120843 Standard Error 2.1572688645 Observations 15
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