Solved

SCENARIO 14-6 One of the Most Common Questions of Prospective House Buyers

Question 210

Short Answer

SCENARIO 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y). To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X1 ) and the amount of insulation in inches ( X 2 ). Given below is EXCEL output of the regression model.
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y). To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ). Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6,the value of the partial F test statistic is _____ for H<sub>0</sub> : Variable X<sub>2</sub> does not significantly improve the model after variable X<sub>1</sub> has been included H<sub>1</sub> : Variable X<sub>2</sub> significantly improves the model after variable X<sub>1</sub> has been included
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y). To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ). Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6,the value of the partial F test statistic is _____ for H<sub>0</sub> : Variable X<sub>2</sub> does not significantly improve the model after variable X<sub>1</sub> has been included H<sub>1</sub> : Variable X<sub>2</sub> significantly improves the model after variable X<sub>1</sub> has been included
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y). To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ). Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-6,the value of the partial F test statistic is _____ for H<sub>0</sub> : Variable X<sub>2</sub> does not significantly improve the model after variable X<sub>1</sub> has been included H<sub>1</sub> : Variable X<sub>2</sub> significantly improves the model after variable X<sub>1</sub> has been included
Also SSR (X1 | X2) = 8343.3572 and SSR (X2 | X1) = 4199.2672
-Referring to Scenario 14-6,the value of the partial F test statistic is _____ for
H0 : Variable X2 does not significantly improve the model after variable X1 has been included
H1 : Variable X2 significantly improves the model after variable X1 has been included

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q205: SCENARIO 14-8<br>A financial analyst wanted to

Q206: SCENARIO 14-15<br>The superintendent of a school

Q207: SCENARIO 14-17<br>Given below are results from

Q208: SCENARIO 14-6<br>One of the most common questions

Q209: SCENARIO 14-17<br>Given below are results from the

Q211: SCENARIO 14-6<br>One of the most common

Q212: SCENARIO 14-17<br>Given below are results from the

Q213: The variation attributable to factors other than

Q214: Multiple regression is the process of using

Q215: SCENARIO 14-17<br>Given below are results from the