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Regression Model 1: Square Footage: Variables Entered/Removed

Model 3 has the highest R-squared value of 0.777 and the lowest standard error, indicating it best predicts selling price. The regression equation from Model 3 is: Selling price = 147670.86 - 2424.158 * Age (years). Each additional year of a home's age predicts a $2424 decrease in selling price on average, holding all else equal. Model 3 suggests a home's age in years is the strongest single predictor of selling price among the variables tested.

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130 views

Regression Model 1: Square Footage: Variables Entered/Removed

Model 3 has the highest R-squared value of 0.777 and the lowest standard error, indicating it best predicts selling price. The regression equation from Model 3 is: Selling price = 147670.86 - 2424.158 * Age (years). Each additional year of a home's age predicts a $2424 decrease in selling price on average, holding all else equal. Model 3 suggests a home's age in years is the strongest single predictor of selling price among the variables tested.

Uploaded by

samikhan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Regression

Model 1: Square Footage

Variables Entered/Removedb

Variables Variables
Model Entered Removed Method

1 Square_Footage . Enter

a. All requested variables entered.


b. Dependent Variable: Selling_Price

Model Summary

Adjusted R Std. Error of the


Model R R Square Square Estimate

1 .804a .646 .622 22069.13979

a. Predictors: (Constant), Square_Footage

ANOVAb

Model Sum of Squares df Mean Square F Sig.

1 Regression 1.332E10 1 1.332E10 27.342 .000a

Residual 7.306E9 15 4.870E8

Total 2.062E10 16

a. Predictors: (Constant), Square_Footage


b. Dependent Variable: Selling_Price

Coefficientsa

Standardized
Unstandardized Coefficients Coefficients

Model B Std. Error Beta t Sig.

1 (Constant) 2367.261 22118.785 .107 .916

Square_Footage 46.601 8.912 .804 5.229 .000

a. Dependent Variable: Selling_Price


Model 2: Bedrooms

Variables Entered/Removedb

Variables Variables
Model Entered Removed Method
a
1 Bedrooms . Enter

a. All requested variables entered.


b. Dependent Variable: Selling_Price

Model Summary

Adjusted R Std. Error of the


Model R R Square Square Estimate

1 .604a .365 .323 29545.75317

a. Predictors: (Constant), Bedrooms

ANOVAb

Model Sum of Squares df Mean Square F Sig.

1 Regression 7.528E9 1 7.528E9 8.624 .010a

Residual 1.309E10 15 8.730E8

Total 2.062E10 16

a. Predictors: (Constant), Bedrooms


b. Dependent Variable: Selling_Price
Coefficientsa

Standardized
Unstandardized Coefficients Coefficients

Model B Std. Error Beta t Sig.

1 (Constant) 1923.469 39028.340 .049 .961

Bedrooms 36137.755 12305.705 .604 2.937 .010

a. Dependent Variable: Selling_Price

Model 3: AGE (YEARS)

Variables Entered/Removedb

Variables Variables
Model Entered Removed Method

1 AGE_Yearsa . Enter

a. All requested variables entered.


b. Dependent Variable: Selling_Price

Model Summary

Adjusted R Std. Error of the


Model R R Square Square Estimate

1 .881a .777 .762 17519.22806


a. Predictors: (Constant), AGE_Years

ANOVAb

Model Sum of Squares df Mean Square F Sig.

1 Regression 1.602E10 1 1.602E10 52.191 .000a

Residual 4.604E9 15 3.069E8

Total 2.062E10 16

a. Predictors: (Constant), AGE_Years


b. Dependent Variable: Selling_Price
Coefficientsa

Standardized
Unstandardized Coefficients Coefficients

Model B Std. Error Beta t Sig.

1 (Constant) 147670.868 6246.954 23.639 .000

AGE_Years -2424.158 335.553 -.881 -7.224 .000

a. Dependent Variable: Selling_Price

Interpretation :
Model 3 is better than others because the R-squared value is higher than others and standard
error value is lower is better for us.

Model 3 equation: selling price = 147670.86-2424.158

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