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

question 195

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:
-Referring to Table 14-4, when the builder used a simple linear regression model with house size (House) as the dependent variable and education (School) as the independent variable, he obtained an r² value of 23.0%. What additional percentage of the total variation in house size has been explained by including family size and income in the multiple regression?

• A) 2.8%
• B) 51.8%
• C) 72.6%
• D) 74.8%

Calculate probabilities for simple and compound events.

Identify and apply the rules for calculating the complement of an event.

Understand probability models and their applications to real-world scenarios.

Comprehend and utilize the concepts of disjoint and non-disjoint events in probability contexts.

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