TABLE 17-1 A Real Estate Builder Wishes to Determine How House Size

question 135

Multiple Choice

TABLE 17-1
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) ,family size (Size) ,and education of the head of household (School) .House size is measured in hundreds of square feet,income is measured in thousands of dollars,and education is in years.The builder randomly selected 50 families and ran the multiple regression.Microsoft Excel output is provided below:
-Referring to Table 17-1,what is the predicted house size (in hundreds of square feet) for an individual earning an annual income of $40,000,having a family size of 4,and going to school a total of 13 years?

• A)11.43
• B)15.15
• C)24.88
• D)53.87

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Definitions:

Nova Scotia

A province located on Canada's southeastern coast, known for its high tides, lobster fishing, and historic sites.

Capital Gains

The profit earned from the sale of an asset or investment for more than its purchase price.

Interest Income

The revenue earned from lending funds or through investments in interest-bearing financial instruments.

New Brunswick

A province located on the east coast of Canada, known for its forested terrain and maritime industries.