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

question 159

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:


Also SSR (X₁ | X₂) = 36400.6326 and SSR (X₁ | X₂) = 3297.7917
-Referring to Scenario 14-3,to test whether aggregate price index has a positive impact on consumption,the p-value is

• A)0.0001
• B)0.4165
• C)0.5835
• D)0.8330

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Definitions:

Price Ceiling

A legally imposed maximum price on a good or service, above which it cannot be sold.

Rent Control

Government-imposed limits on the amount landlords can charge for renting out housing or apartments, intended to keep housing affordable.

Price Floor

A government-imposed limit on how low a price can be charged for a product, meant to ensure fair compensation for producers.

Rent Control

A government policy or law that limits the amount landlords can charge for leasing a home or apartment, with the aim to keep housing affordable for tenants.