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Teamwork RA On Excel

The document presents a regression analysis of home selling prices in Arizona, focusing on the impact of the number of bedrooms, square footage, and distance from the city center. Key statistics include an R Square of 0.520, indicating that approximately 52% of the variance in selling prices can be explained by the model. The coefficients suggest that the number of bedrooms and distance from the city center significantly affect selling prices, while square footage has a less clear impact.

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4 views2 pages

Teamwork RA On Excel

The document presents a regression analysis of home selling prices in Arizona, focusing on the impact of the number of bedrooms, square footage, and distance from the city center. Key statistics include an R Square of 0.520, indicating that approximately 52% of the variance in selling prices can be explained by the model. The coefficients suggest that the number of bedrooms and distance from the city center significantly affect selling prices, while square footage has a less clear impact.

Uploaded by

080611chen
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Teamwork Regression Analysis using Excel

y x1 x2 x3
y Selling Price of homes Selling price # Bedrooms Sqr Footage City Center
in Arizona 263,000 4 2,300 17
x1 Number of bedrooms 182,400 4 2,100 19 Reg
242,100 3 2,300 12
x2 Square footage of home 213,600 2 2,200 16
139,900 2 2,100 28
x3 Distance from city center 245,400 2 2,100 12
in miles 327,200 6 2,500 15
271,800 2 2,100 9
221,600 3 2,300 18
292,400 4 2,100 14
209,000 2 1,700 8
270,800 6 2,500 7
246,100 4 2,100 18
194,400 2 2,300 11
266,600 4 2,400 13
281,300 3 2,100 16
172,700 4 2,200 16
207,500 5 2,300 21
198,900 3 2,200 10
209,300 6 1,900 15
252,300 4 2,600 8
192,900 4 1,900 14
209,300 5 2,100 20
345,300 8 2,600 9
326,300 6 2,100 11
173,100 2 2,200 21
187,000 2 1,900 26
257,200 2 2,100 9
233,000 3 2,200 14
180,400 2 2,000 11

Cannot verify accuracy - using for demonstration purposes only.


SUMMARY OUTPUT

Regression Statistics
Multiple R 0.721
R Square 0.520
Adjusted R Square 0.464
Standard Error 36,671.045
Observations 30

ANOVA
df SS MS F Significance F
Regression 3 37,850,947,454.20 12,616,982,484.73 9.38 0.00
Residual 26 34,963,904,545.80 1,344,765,559.45
Total 29 72,814,852,000.00

Coefficients Standard Error t Stat P-value Lower 95% Upper 95%


Intercept 143,590.20 82,412.32 1.74 0.09 (25,810.76) 312,991.16
# Bedrooms 13,025.92 4,745.73 2.74 0.01 3,270.93 22,780.91
Sqr Footage 44.96 37.39 1.20 0.24 (31.89) 121.80
City Center (3,788.66) 1,341.31 (2.82) 0.01 (6,545.76) (1,031.56)

1. Before reviewing the results, what is your prediction for the coefficients, positive or negative? Why?

2. What was your teammate's prediction?

3. How can you check the R Square value?

4. Do you believe the R Square is high enough to make accurate selling price predictions?

5. Name another independent variable that could be included.

6. Write the regression equation from the coefficients' column.

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