Answer
The number of floors and the distance of house (in km) from the places of necessities like hospitals, markets, and so on.
The data that is collected from the survey and will predict the best selling price is shown below:
Work Step by Step
To obtain the regression equation to predict the dependent variable, follow the below steps in StatCrunch,
Step 1: Enter the data in StatCrunch.
Step 2: Go to Stat and choose the option of Multiple Linear under regression.
Step 3: Select price as the \[Y\]variable from the dropdown menu and others as an explanatory variable in \[X\]variable.
Step 4: Click on Compute.
The least-squares regression equation is obtained as
\[\begin{align}
& \text{Price }=\text{ }907.37954\text{ }+\text{ }-256.17543\text{ acres }+\text{ }-118.81021\text{ Bedrooms } \\
& +\text{ }-19.554712\text{ Bathrooms }+\text{ }-0.033540493\text{ Sq}\text{. ft}\text{. } \\
& +\text{ }2.160711\text{ Age}\left( \text{yr} \right)\text{ }+\text{ }10.605051\text{ rooms}
\end{align}\]
The model worked when compared with other localities as the predicted selling price of this model is more than other models.
