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

question 63

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,one individual in the sample had an annual income of $40,000,a family size of 1,and an education of 8 years.This individual owned a home with an area of 1,000 square feet (House = 10.00) .What is the residual (in hundreds of square feet) for this data point?

• A)-6.99
• B)-5.35
• C)5.40
• D)16.99

Evaluate the role of technology and statistical software in the analysis of two-way table data.

Calculate and interpret column proportions in two-way tables.

Understand the implications of significant and non-significant Chi-square test results.

Relate the concepts of the Chi-square statistic with degrees of freedom to other statistical measures.

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Definitions:

Second Marriages

Marriages that occur after one or both partners have been previously married, often involving complex emotional and logistical considerations.

Duration

The length of time that something continues or exists.

First Marriages

The initial legally recognized union between two individuals as spouses, before any potential subsequent marriages.

Redivorce

The act of divorcing for a second or subsequent time, following a previous divorce or divorces.