The information below represents the relationship between the selling price (Y, in $1,000) of a home, the square footage of the home ( ), and the number of rooms in the home ( ). The data represents 60 homes sold in a particular area of East Lansing, Michigan and was analyzed using multiple linear regression and simple regression for each independent variable. The first two tables relate to the multiple regression analysis.
-(A) Use the information related to the multiple regression model to determine whether each of the regression coefficients are statistically different from 0 at a 5% significance level. Summarize your findings.
(B) Test at the 5% significance level the relationship between Y and X in each of the simple linear regression models. How does this compare to your answer in (A)? Explain. (
C) Is there evidence of multicollinearity in this situation? Explain why or why not.

Question

The information below represents the relationship between the selling price (Y, in $1,000) of a home, the square footage of the home (  ), and the number of rooms in the home (  ). The data represents 60 homes sold in a particular area of East Lansing, Michigan and was analyzed using multiple linear regression and simple regression for each independent variable. The first two tables relate to the multiple regression analysis. 
-(A) Use the information related to the multiple regression model to determine whether each of the regression coefficients are statistically different from 0 at a 5% significance level. Summarize your findings.
(B) Test at the 5% significance level the relationship between Y and X in each of the simple linear regression models. How does this compare to your answer in (A)? Explain. (
C) Is there evidence of multicollinearity in this situation? Explain why or why not.

Quizplus · Accepted Answer

The Answer of The information below represents the relationship between the selling price (Y, in $1,000) of a home, the square footage of the home (  ), and the number of rooms in the home (  ). The data represents 60 homes sold in a particular area of East Lansing, Michigan and was analyzed using multiple linear regression and simple regression for each independent variable. The first two tables relate to the multiple regression analysis. 
-(A) Use the information related to the multiple regression model to determine whether each of the regression coefficients are statistically different from 0 at a 5% significance level. Summarize your findings.
(B) Test at the 5% significance level the relationship between Y and X in each of the simple linear regression models. How does this compare to your answer in (A)? Explain. (
C) Is there evidence of multicollinearity in this situation? Explain why or why not.

The Information Below Represents the Relationship Between the Selling Price