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

question 39

Short Answer

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} One individual in the sample had an annual income of $100,000,a family size of 10,and an education of 16 years.This individual owned a home with an area of 7,000 square feet.What is the residual (in hundreds of square feet)for this data point?

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