Solved

TABLE 13-4 A Real Estate Builder Wishes to Determine How House Size

question 266

Multiple Choice

TABLE 13-4
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:
$TABLE 13-4 A real estate builder wishes to determine how house size (House) is influenced by family income (Income) , family size (Size) , and education of the head of household (School) . House size is measured in hundreds of square feet, income is measured in thousands of dollars, and education is in years. The builder randomly selected 50 families and ran the multiple regression. Microsoft Excel output is provided below: -Referring to Table 13-4, what fraction of the variability in house size is explained by income, size of family, and education? A) 27.0% B) 33.4% C) 74.8% D) 86.5%$
-Referring to Table 13-4, what fraction of the variability in house size is explained by income, size of family, and education?

Definitions:

Estimated Amount

A projected value or quantity that is approximated based on current information and analysis.

Top Managers

The highest level of management, responsible for setting strategic goals and ensuring the organization's long-term success.

Long-Term Vision

A strategic outlook that focuses on achieving goals and objectives over an extended period, shaping the future direction of an individual or organization.

Organizational Objectives

The established goals that guide a company or organization's activities and direction, aimed at achieving overall success and fulfillment of its mission.