Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 08 Oct 2017 My Price 4.00

`Price on Size of homes

Real estate again. The regression of Price on Size of homes in Albuquerque had  as described in Exercise 15. Write a sentence (in context, of course) summarizing what the R2 says about this regression.

Exercise 15:

Real estate. A random sample of records of sales of homes from Feb. 15 to Apr. 30, 1993, from the files maintained by the Albuquerque Board of Realtors gives the Price and Size (in square feet) of 117 homes. A regression to predict Price (in thousands of dollars) from Size has an R-squared of 71.4%. The residuals plot indicated that a linear model is appropriate.

a) What are the variables and units in this regression?

b) What units does the slope have?

c) Do you think the slope is positive or negative? Explain.

Answers

Maurice Tutor
(5)
Status NEW Posted 08 Oct 2017 12:10 PM My Price 4.00

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