 Subject Mathematics Advanced Statistics

Question

(a) Use the Corner Homes Data." The variables are Price = selling price of a home, SQFT = square feet are of home, Corner = 1 if home is on a corner and 0 if home is not on a corner

(b) Create a new variable column that is the product of the SQFT and Corner variables. This will be an interaction variable. Create a new name for the storage column, and in the expression box enter SQFT*Corner. Then, do a multiple regression with Price as the response variable (y-variable) and the three variables SQFT, Corner, and the newly created interaction variable as the predictor variables (x-variables). Write the resulting sample regression equation as the answer to this part.

(c) Using the fact that corner homes have Corner = 1, determine the equation that relates price to SQFT for corner homes. (Substitute Corner = 1 into the equation that you wrote for part (b).

(d) Using the fact that non-corner homes have Corner = 0, determine the equation that relates price to SQFT for non-corner homes. (Substitute Corner = 0 into the equation that you wrote for part (b).

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(c)

ŷ(Corner=1)=-15364.2811+74.9708SQFT+49540.4289*1-35.5842SQFT*1
=34176.15+39.3866SQFT...

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