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Statistics

To assess the impact of size X1 (sq. feet) and distance from the centre of town X2 (miles) on the value of homes Y (in $ thousands)

Data on (Y, X1, X2) for n = 9 homes are given as follows:

Y X1 X2
345 1650 3.5
238 1870 0.5
452 2230 1.5
422 1740 4.5
328 1900 1.8
375 2000 0.1
660 3200 3.4
466 1860 3
290 1230 1

a) Fit a multiple linear regression equation of Y on X1 and X2

b) Use the equation to predict the value of a home measuring 1500 sq. ft. which is at a distance of 0.75 mile from the centre of the town.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9403992

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