STAT 622 Nassau County is located approximately
Please answer 4 problems in EXCEL format!!
Nassau County is located approximately 25 miles east of New York City. The data organized and stored inGlenCoveinclude the appraised value, land area of the property, and age (in years) for a sample of 30 single-family homes located in Glen Cove, a small city in Nassau County. Develop a multiple linear regression model to predict appraised value based on land area of the property and age (in years).
a. State the multiple regression equation
b. Interpret the meaning of the slopes, b1and b2, in this problem
c. Explain why the regression coefficient, b0, has no practical meaning in the context of this problem.
d. Predict the appraised value for a house that has a land area of 0.25 acre and is 45 years old.
e. Construct a 95% confidence interval estimate for the mean appraised value for the houses that have a land area of 0.25 and are 45 years old. (use PHstat)
f. Construct a 95% prediction interval estimate for the appraised value for an individual house that has a land area of 0.25 acre and is 45 years old. (use PHstat)
In problem above problem, you used the land area of a property and the age of a house to predict appraised value. Using the results from that problem,
a. Determine whether there is a significant relationship between appraised value and two independent variables (land area of a property and age of a house) at the 0.05 level of significance.
b. Interpret the meaning of the p-value.
c. Compute the coefficient of multiple determination, r2, and interpret its meaning.
d. Compute the adjusted r2.
In problem above problem, you used the land area of a property and the age of a house to predict appraised value.
a. Perform a residual analysis on your results.
b. If appropriate, perform the Durbin-Watson test using ? = 0.05.
c. Are the regression assumptions valid for these data?
in above problem, you used the land area of a property and the age of a house to predict appraised value. Using the results from that problem,
a. Construct a 95% confidence interval estimate of the population slope between appraised value and land area of a property.
b. At the 0.05 level of significance, determine whether each independent variable makes a significant contribution to the regression model. On the basis of these results, indicate the independent variables to include in this model
9 Sycamore Road
21 Jefferson St
38 Hitching Post Lane
4 Poppy Lane
5 Daniel Drive
15 Francis Terrace
23 Guilfoy Street
17 Carlyle Drive
8 Craft Avenue
22 Beechwood Ct.
14 Fox Street
7 Raynham Road
2 Jerome Drive
7 Valentine Street
38 Jefferson Street
15 Inwood Road
29 Meadowfield Lane
13 Westland Drive
79 Valentine Street
13 Fairmont Place
1 Prestwick Terrace
11 Clement Street
7 Woodland Road
36 Elm Avenue
17 Duke Place
12 Prospect Avenue
1 Buckeye Road
30 Ann Street
26 Broadfield Place
16 Jackson Street
Property
Appraised
Size
House Size
Value
(acres) (square feet) Age Rooms Baths Garage
466.0
0.2297
2448 46
7
3.5
2
364.0
0.2192
1942 51
7
2.5
1
429.0
0.1630
2073 29
5
3
2
548.4
0.4608
2707 18
8
2.5
1
405.9
0.2549
2042 46
7
1.5
1
374.1
0.2290
2089 88
7
2
0
315.0
0.1808
1433 48
7
2
0
749.7
0.5015
2991
7
9
2.5
1
217.7
0.2229
1008 52
5
1
0
635.7
0.1300
3202 15
8
2.5
2
350.7
0.1763
2230 54
8
2
0
455.0
0.4200
1848 48
7
2
1
356.2
0.2520
2100 46
6
2
0
271.7
0.1148
1846 12
5
3
1
304.3
0.1693
1331 64
5
1
1
288.4
0.1714
1344 52
8
1
0
396.7
0.3849
1822 44
6
2
1
613.5
0.6545
2479 46
6
2.5
2
314.1
0.1722
1605 52
6
3
0
363.5
0.1435
2080 78
11
2
0
364.3
0.2755
2410 71
6
1
1
305.1
0.1148
1753 97
8
2
0
441.7
0.3636
1884 45
7
2
2
353.1
0.1474
2050 41
10
2
2
463.3
0.2281
2978 40
6
2.5
2
320.0
0.4626
2132 82
7
1
0
332.8
0.1889
1551 54
6
2
0
276.6
0.1228
1129 44
5
1
0
397.0
0.1492
1674 34
7
2
1
221.9
0.0852
1184 94
5
1
0
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Rating:
/5
Solution: STAT 622 Nassau County is located approximately 25 miles