Real Estate Builder a Real Estate Builder Wishes to Determine How House

question 52

Essay

Real Estate Builder
A real estate builder wishes to determine how house size is influenced by family income,family size,and education of the head of household.House size is measured in hundreds of square feet,income is measured in thousands of dollars,and education is measured in years.A partial computer output is shown below. SUMMARY OUTPUT Regression Statistics Multiple R 0.865 R Square 0.748 Adjusted R Square 0.726 Standard Error 5.195 Observations 50 ANOVA ​ ​
-{Real Estate Builder Narrative} When the builder used a simple linear regression model with house size as the dependent variable and education as the independent variable,he obtained an R-square value of 23.0%.What additional percentage of the total variation in house size has been explained by including family size and income in the multiple regression?

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Definitions:

Classical Organization

A theory or model of management that focuses on efficiency, hierarchy, and strict roles within an organization to achieve its goals.

Intrinsic Rewards

Non-monetary rewards that come from the satisfaction of doing a job, such as personal achievement or professional growth.

Joint Employee-management Planning

A collaborative approach between employers and employees in the planning and implementation of workplace strategies.

Contextual Variable

Any variable that acts as a contributing factor in the environment where research is conducted or decisions are made, affecting outcomes.