A home appraisal company would like to develop a regression model that would predict the selling price of a house based on the a

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3 years ago

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A home appraisal company would like to develop a regression model that would predict the selling price of a house based on the a

ge of the house in years (Age), the living area of the house in square feet (Living Area) and the number of bedrooms (Bedrooms). The following Excel output shows the partially completed regression output from a random sample of homes that have recently sold. The predicted selling price for a home that is 12 years of age, has 2,500 square feet of living area, and has four bedrooms is ________

Mathematics

1 answer:

denis-greek [22] · Answer 1 · 2023-01-19T12:55:41+03:00

The regression solved shows that the predicted selling price for a home that is 12 years of age is $443747.

<h3>How to compute the value of the home?</h3>

From the complete information, the regression equation is given as:

y = 108597.37 - 580.687 × age + 86.82 × living areas + 31261.9127 × bedroom

Therefore, the predicted selling price will be:

= 108597.37 - 580.687 × 12 + 86.82 × 2500 + 31261.9127 × 4

= $443747

In conclusion, the selling price is $443747.

Learn more about regression on:

brainly.com/question/25987747