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A) To develop an adequate regression equation to help the estate agency in deciding on the best price to allocate to a certain house we must first draw up a full regression model using all available data. ...
The following model has been drawn up using Total house price as the dependant variable and Ground Floor Area, Number of Rooms and number of Bedrooms as the independent variable:
Regression Analysis: Total£ versus Bedrooms, Rooms, GFarea
The regression equation is
Total£ = - 41112 + 16989 Bedrooms + 2850 Rooms + 81. ... This is to identify any of the independent variables that reduce the accuracy of the model and the regression equation. ...
Regression Analysis: Total£ versus GFarea, Bedrooms
The regression equation is
Total£ = - 36280 + 84. ... 7%
Analysis of Variance
Source DF SS MS F P
Regression 2 3. ...
Conducting an F-Test;
This is the regression model with rooms deleted from the equation. ...
B) Full regression model with Total house price as the dependant variable and Land£, Rooms, and Acreage as the independent variables.
Regression Analysis: Total£ versus Acreage, Rooms, Land£
The regression equation is
Total£ = - 134222 - 49692 Acreage + 5994 Rooms + 5. ... 0%
Analysis of Variance
Source DF SS MS F P
Regression 3 4. ...
Is the model likely to suffer from multicollinearity?
It is necessary in the use of least squares regression that the independent variables are not perfectly linearly correlated.
Approximate Word count = 1040
Approximate Pages = 4.2
(250 words per page double spaced)
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