TABLE 14-4
a Real Estate Builder Wishes to Determine How

question 53

Multiple Choice

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:
$\begin{array}{ll} & \text { Regression Stuistics } \\\hline \text { Multiple R } & 0.865 \\\text { R Square } & 0.748 \\\text { Adjusted R Square } & 0.726 \\\text { Standard Error } & 5.195 \\\text { Observations } &50 \\\hline\end{array}$
ANOVA
$\begin{array}{lrrrrr}\hline & \text { d f }& \text {S S } & \text {M S } & \text {F } & \text {Significance F } \\\hline \text {Regression} & & 3605.7736 & 1201.9245 && 0.0000 \\\text {Residual} & & 1214.2264 & 26.3962 & \\Total & 49 & 4820.0000 & & & \\\hline\end{array}$

$\begin{array}{lcccc}\hline & \text { Coefficients} & \text {Standard Error} & \text {t Stat }& \text {p -value} \\\hline \text {Intercept }& -1.6335 & 5.8078 & -0.281 & 0.7798 \\ \text {Income} & 0.4485 & 0.1137 & 3.9545 & 0.0003 \\ \text {Size} & 4.2615 & 0.8062 & 5.286 & 0.0001 \\ \text {School }& -0.6517 & 0.4319 & -1.509 & 0.1383 \\\hline\end{array}$

-Referring to Table 14-4, what minimum annual income would an individual with a family size of 9 and 10 years of education need to attain a predicted 5,000 square foot home (House = 50) ?

• A) $211.85 thousand
• B) $178.33 thousand
• C) $56.75 thousand
• D) $44.14 thousand

Understand what information is appropriate to inquire about in follow-up communications.

Understand the importance of presenting oneself in alignment with the organization’s culture.

Learn the structure and content of effective follow-up letters post-interview.

Know how to prepare for different stages of the interview process and handle job offers.

---

Definitions:

Correlation

A statistical measure that indicates the extent to which two or more variables fluctuate together.

Statistical Index

A measure, often numerical, that indicates the relative position or level of a variable within a statistical distribution or dataset.

Two Factors

A psychological theory suggesting that emotion is based on two factors: physiological arousal and cognitive label.

Population

The total number of individuals or organisms of a particular species living in a specific area or region.