The following data give the selling price, squarefootage, number of bedrooms, and age of housesthat have sold in a neighborhood in the past 6months. Develop three regression models to predictthe selling price based upon each of the other factorsindividually. Which of these is best?
SELLING SQUARE AGE
PRICE($) FOOTAGE BEDROOMS (YEARS)
64,000 1,670 2 30
59,000 1,339 2 25
61,500 1,712 3 30
79,000 1,840 3 40
87,500 2,300 3 18
92,500 2,234 3 30
95,000 2,311 3 19
113,000 2,377 3 7
SELLING SQUARE AGE
PRICE($) FOOTAGE BEDROOMS (YEARS)
115,000 2,736 4 10
138,000 2,500 3 1
142,500 2,500 4 3
144,000 2,479 3 3
145,000 2,400 3 1
147,500 3,124 4 0
144,000 2,500 3 2
155,500 4,062 4 10
165,000 2,854 3 3