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A home appraisal company would like to develop a regression model that would predict the selling ...

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A home appraisal company would like to develop a regression model that would predict the selling ...

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A home appraisal company would like to develop a regression model that would predict the selling price of a house based on the age of the house in years (Age), the living area of the house in square feet (Living Area) and the number of bedrooms (Bedrooms). The following Excel output shows the partially completed regression output from a random sample of homes that have recently sold.

Every additional year in the age of the house will _________.

▸ increase the average selling price by $2,092

▸ decrease the average selling price by $581

▸ increase the average selling price by $102

▸ decrease the average selling price by $109

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Business Statistics

Edition: 2^nd

Author: Donnelly

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