A Realtor Is Trying to Predict the Selling Price of Houses

question 86

Multiple Choice

A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of Size (measured in thousands of square feet) and whether or not there is a fireplace (FP is 0 if there is no fireplace, 1 if there is a fireplace) . The regression output is provided below. Some of the information has been omitted. $$\begin{array} { l c r c c } \hline \text { Source of variation } & \text { SS } & d f & \text { MS } & F \\\hline \text { Regression } & 3177.17 & 2 & 1588.584 & \\\text { Residual } & & 17 & 17.71713 & \\\text { Total } & 3478.36 & 19 & & \\\hline\end{array}$$ Which of the following conclusions can be made based on the F-test?

• A)The p-value on the F-test will be very high.
• B)At least one of the predictors is useful in explaining Y.
• C)The model is of no use in predicting selling prices of houses.
• D)The estimates were based on a sample of 19 houses.

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Definitions:

Path-Goal Theory

A leadership theory that suggests the leader's role is to guide followers in achieving their goals and to provide the necessary direction and support to ensure that their goals are compatible with the overall objectives of the group or organization.

Achievement-Oriented Leadership

A leadership style focused on setting challenging goals, emphasizing excellence, and working towards achieving high performance levels.

Path-Goal Leadership Theory

A theory which states that a leader's behavior is contingent to the satisfaction, motivation, and performance of their subordinates, and involves adjusting leadership styles based on situational demands and follower characteristics.

Directive Leadership

A management style where leaders closely control and instruct the work of their employees, often dictating the what, how, and when of tasks.