TABLE 14-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size) .House size is measured in hundreds of square feet and income is measured in thousands of dollars.The builder randomly selected 50 families and ran the multiple regression.Partial Microsoft Excel output is provided below: Also SSR (X₁ ∣ X₂) = 36400.6326 and SSR (X₂ ∣ X₁) = 3297.7917
-Referring to Table 14-4,when the builder used a simple linear regression model with house size (House) as the dependent variable and family size (Size) as the independent variable,he obtained an r² value of 1.25%.What additional percentage of the total variation in house size has been explained by including income in the multiple regression?

Question

TABLE 14-4
A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size) .House size is measured in hundreds of square feet and income is measured in thousands of dollars.The builder randomly selected 50 families and ran the multiple regression.Partial Microsoft Excel output is provided below:

Also SSR (X₁ ∣ X₂) = 36400.6326 and SSR (X₂ ∣ X₁) = 3297.7917
-Referring to Table 14-4,when the builder used a simple linear regression model with house size (House) as the dependent variable and family size (Size) as the independent variable,he obtained an r² value of 1.25%.What additional percentage of the total variation in house size has been explained by including income in the multiple regression?

Quizplus · Accepted Answer

The Answer of TABLE 14-4 A real estate builder wishes to determine how house size (House)is influenced by family income (Income)and family size (Size).House size is measured in hundreds of square feet and income is measured in thousands of dollars.The builder randomly selected 50 families and ran the multiple regression.Partial Microsoft Excel output is provided below: Also SSR (X 1 ∣ X 2 )= 36400.6326 and SSR (X 2 ∣ X 1 )= 3297.7917 -Referring to Table 14-4,when the builder used a simple linear regression model with house size (House)as the dependent variable and family size (Size)as the independent variable,he obtained an r² value of 1.25%.What additional percentage of the total variation in house size has been explained by including income in the multiple regression? A)15.00% B)70.64% C)71.50% D)73.62%

TABLE 14-4 A Real Estate Builder Wishes to Determine How House Size