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TABLE 14-4 A Real Estate Builder Wishes to Determine How House Size

question 12

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TABLE 14-4
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: TABLE 14-4 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 14-4, suppose the builder wants to test whether the coefficient on School is significantly different from 0. What is the value of the relevant t-statistic? A)  5.286 B)  5.195 C)  3.945 D)  -1.509
-Referring to Table 14-4, suppose the builder wants to test whether the coefficient on School is significantly different from 0. What is the value of the relevant t-statistic?


Definitions:

Alpha

The significance level in hypothesis testing, representing the probability of making a Type I error.

Free Throw Percentage

A statistical measure in basketball representing the ratio of free throws made to free throws attempted.

Proficiency

The ability to do something very well because of training and practice.

Power of the Test

The probability of correctly rejecting a false null hypothesis, indicating a test's ability to detect an effect if there is one.

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