Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Develop a regression model for predicting the asking price of a house.

Suppose that you would be selling your house and you are trying to develop a model to predict the eventual sale price of your home.  You are interested in getting as many offers as possible so you do not want to set the asking price of the house too high because that would result in fewer people considering the property.  Then again if the asking price is too low, you might be tempted to sell the property at too low a price and not realize an appropriate profit.  You have available some old data (about ten years old) which you feel is the best you can get in the time frame in which you are working.  You feel that by about doubling the old prices you would get values that are appropriate for current home sales.

Choose a random sample of 50 homes from the enclosed 90 cases.  Double the asking price and selling price and use this data to develop three predictive models:

Build up a model for predicting the asking price of a house.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922893

Have any Question? 


Related Questions in Statistics and Probability

1 true or false justify for

1. True or False. Justify for fullcredit. (a) A is an event, and Ac is the complement of A, then P(A AND Ac ) =0. (b) If the variance of a data set is 0, then all the observations in this data set must bezero. (c) If a 9 ...

Entertainment software association would like to test if

Entertainment Software Association would like to test if the average age of "gamers" (those that routinely play video games) is more than 30 years old. A random sample of 33 gamers was selected and their ages were record ...

For each of the following three cases explain i the

For each of the following three cases, explain (i) the hypotheses with a plausible definition of p1 and p2, (ii) whether or not the data indicate practical significance (use common sense and/or general knowledge), and (i ...

Suppose that a certain college class contains 49 students

Suppose that a certain college class contains 49 students. Of these, 24 are seniors, 26 are English majors, and 9 are neither. A student is selected at random from the class. (a) What is the  probability  that the studen ...

A citys mean minimum daily temperature in february is 27

A city's mean minimum daily temperature in February is 27 degrees F. Suppose the standard deviation of the minimum temperature in February is 4 degrees F and that the distribution of minimum temperatures in February is a ...

250 -300 wordsexplain the history behind the black soldier

250 -300 words Explain the history behind the Black Soldier of the Civil War In this forum look beyond the book for information on specific units, soldiers and even the reasons for why Lincoln allowed the African America ...

What is the comparison between the threat that the world

What is the comparison between the threat that the world faced from the fascists and communists during the 20th century and the threat faced by the world today from radical Islam? Be sure to include specific two historic ...

Read the scenario related to identifying variables and

Read the scenario related to identifying variables and developing problem statements and then answer the three questions. Scenario: Retention of minority women in the workplace is becoming more and more difficult. Not fi ...

1 what are some ways in which scientists get ideas for

1. What are some ways in which scientists get ideas for their research? 2. Why can theories not be proved or disproved by research? 3. Given that proof and disproof are impossible in science, how does scientific knowledg ...

What issues did the third world radicalism address how

What issues did the third world radicalism address? How successful were their leaders in implementing their goals? Answer has to be a page minimum

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro