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

question 215

Multiple Choice

SCENARIO 14-4 A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size) .House size is measured in hundreds of square feet and income is measured in thousands of dollars.The builder randomly selected 50 families and ran the multiple regression.Partial Microsoft Excel output is provided below:
-Referring to Scenario 14-4, when the builder used a simple linear regression model with house size (House) as the dependent variable and family size (Size) as the independent variable, he obtained an r2 value of 1.25%.What additional percentage of the total variation in house size has been explained by including income in the multiple regression?

• A)15.00%
• B)70.64%
• C)71.50%
• D)73.62%

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Definitions:

Organizing

The process of arranging or structuring elements in a systematic way to achieve order and improve efficiency.

Unmarried People

Individuals who are not legally married or part of a recognized marital union.

Married People

Individuals who have entered into a legally recognized union, typically involving emotional and financial partnership and commitment.

Happiness

A state of well-being and contentment, characterized by positive emotions and life satisfaction.