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

question 28

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} At the 0.01 level of significance,what conclusion should the builder draw regarding the inclusion of education in the regression model?

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Definitions:

Transfer of Possession

The act of moving the control or ownership of property from one person to another.

Disclaimer of Liability

A statement that seeks to limit one’s responsibility for any harm or damage that may occur from the use of a service or product.

Bailment

A legal relationship where physical possession of personal property is transferred from one person to another, with the understanding that the property will be returned.

Disclaimer of Liability

A statement that specifies or limits the extent to which a party can be held responsible for any damages or losses incurred.