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

question 345

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, one individual in the sample had an annual income of $100,000, a family size of 10, and an education of 16 years. This individual owned a home with an area of 7,000 square feet (House = 70.00) . What is the residual (in hundreds of square feet) for this data point?

• A) 7.40
• B) 2.52
• C) -2.52
• D) -5.40

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Definitions:

Work Experience

The accumulation of knowledge, skills, and competencies as a result of participation in paid employment.

External Recruiting

The process of seeking new employees from outside the organization through various means like advertisements, job fairs, and social media.

Employment Agencies

Organizations that match employers with job seekers, helping individuals find employment and companies to fill vacancies.

Development

The process of growth, progress, or improvement, often focused on personal, professional, or organizational advancement.