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

Multiple Choice

SCENARIO 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 (X₁ | X₂) = 3297.7917
-Referring to Scenario 14-3,what is the estimated mean consumption level for an economy with GDP equal to $4 billion and an aggregate price index of 150?

A) $1.39 billion
B) $2.89 billion
C) $4.75 billion
D) $9.45 billion