Home Price (in dollars) = 269,679 + X1(16,042) + X2(-121,731) + X3(-19,379) X1 is defined as...
Home Price (in dollars) = 269,679 + X1(16,042) + X2(-121,731) + X3(-19,379) X1 is defined as 100s of square feet in the home. For example, if the home has 1,200 square feet, X1 would be 12. X2 and X3 are dummy variables based on the zip code of the house and are defined as follows: Zip code X2 X3 98026 0 0 98029 1 0 98116 0 1 Use these values to determine the predicted price of a 3,000 square foot home in the 98029 zip code. What is the home’s predicted price in dollars?
Homework Answers
The model for the Home Price is
For the ZIP code 98029, 
, and 
.
Thus the predicted price is
Add Answer to:
Home Price (in dollars) = 269,679 + X1(16,042) + X2(-121,731) +
X3(-19,379) X1 is defined as...
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options C and D for the mutiple choice questions are C: The selling price of this...
options C and D for the mutiple choice questions are
C: The selling price of this particular house is less than the
predicted value by the amount of the residual.
D: The residual is the predicted selling orice for house with
zero square feet.
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One of the biggest factors in determining the value of a home is the square footage....
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Consider a multiple regression model of the dependent variable y on independent variables x1, X2, X3, and x4: Using data with n 60 observations for each of the variables, a student obtains the follow...
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One of the biggest factors in determining the value of a home is the square footage....
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options C and D for the mutiple choice questions are
C: The selling price of this particular house is less than the
predicted value by the amount of the residual.
D: The residual is the predicted selling orice for house with
zero square feet.
For the response variable y, the selling price in thousands of dollars, and the expanatory variable x, the size of the house in thousands of square feet. ý = 9.5 +77 2x. a. How much do...
Algebra Consider the feasible region in R3 defined by the inequalities -X1 + X3 > 4 3x1 + 2x2 – 23 > -3, along with xi > 0, x2 > 0 and x3 > 0. (a) Write down the linear system obtained by introducing slack vari- ables 24 and 25. (b) Write down the basic solution corresponding to the variables xi and X3. (c) Explain whether the solution corresponds to a vertex of the fea- sible region. If it does...
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One of the biggest factors in determining the value of a home is the square footage. The accompanying data represent the square footage and selling price on thousands of dollars) for a random sample of homes for sale in a certain region Complete parts (a) through) below Click the icon to view the housing data Data Table (1) Draw a scatter diagram of the data Choose the correct scatter OA 700 AY 000 Selling Price 15000). 3744 3516 1865 3224...
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