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

Short Answer

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 14-4,what annual income (in thousands of dollars)would an individual with a family size of 9 need to attain a predicted 5,000 square foot home (House = 50)?