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A realtor is trying to predict the selling price of houses in Greenville (in thousands of dollars) as a function of Size (measured in thousands of square feet) and number of bedrooms (BR). Part of the regression output is provided below, based on a sample of 20 homes. Some of the information has been omitted.
Variable Coefficients Standard Error t-Stat
Intercept 128.93746 2.6205302 49.203
Size 1.2072436 11.439
FP 6.47601954 1.9803612 3.27
a. The estimated coefficient for size is approximately _____.
b. How many predictors (independent variables) were used in the regression?

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okpalawalter8

Answer:

a. The estimated coefficient for size is approximately [tex]s =13.8096595404[/tex]

b The number of  predictors are 2

Step-by-step explanation:

From the table we can see that

   The standard error of size is  [tex]e = 1.2072436[/tex]

  and the test statistics of size is [tex]T_s = 11.439[/tex]

The estimated coefficient for size is evaluated as

        [tex]s=e * T_s[/tex]

=>    [tex]s =1.2072436\cdot 11.439[/tex]

=>        [tex]s =13.8096595404[/tex]

The number of predictors are two and this include size and FP

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