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).Part of the regression output is provided below,based on a sample of 20 homes.Some of the information has been omitted. Which statement is supported by the regression output?
A)At α = .05,FP is not a significant predictor in a two-tailed test.
B)A fireplace adds around $6,476 to the selling price of the average house.
C)A large house with no fireplace will sell for more than a small house with a fireplace.
D)FP is a more significant predictor than Size.

Question

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).Part of the regression output is provided below,based on a sample of 20 homes.Some of the information has been omitted.  Which statement is supported by the regression output?
A)At α = .05,FP is not a significant predictor in a two-tailed test. 
B)A fireplace adds around $6,476 to the selling price of the average house. 
C)A large house with no fireplace will sell for more than a small house with a fireplace. 
D)FP is a more significant predictor than Size.

Quizplus · Accepted Answer

The Answer of 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).Part of the regression output is provided below,based on a sample of 20 homes.Some of the information has been omitted.  Which statement is supported by the regression output?
A)At α = .05,FP is not a significant predictor in a two-tailed test. 
B)A fireplace adds around $6,476 to the selling price of the average house. 
C)A large house with no fireplace will sell for more than a small house with a fireplace. 
D)FP is a more significant predictor than Size.

A Realtor Is Trying to Predict the Selling Price of Houses