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

question 173

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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 Income 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 Income is significantly different from 0. What is the value of the relevant t-statistic?


Definitions:

Postdecisional Dissonance

A form of psychological stress experienced after making a difficult choice, typically involving doubts about the decision.

Cognitive Dissonance

The mental discomfort or stress experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Justification of Effort

A concept in social psychology suggesting that individuals assign greater value to outcomes they have put effort into achieving.

Mere Exposure Effect

A psychological phenomenon in which people tend to develop a preference for things merely because they are familiar with them.

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