Project #37440 - Stats

Directions:  In your report make sure all the questions are answered and addressed explicitly, and also add your critical evaluation of the situation and the analysis method used to answer these questions. For the related questions, formally state any hypotheses necessary to respond to the tasks (both symbolic and in words). Significance level of 0.05 is assumed for all of them.

 

Question 1: [15 points] In a study of housing demand, a county assessor is interested in developing a regression model to estimate the selling price of residential properties within her jurisdiction. She randomly selects 15 houses and records the selling price in addition to the following values: the size of the house (in hundreds of square feet), the total number of rooms in the house, the age of the house, and an indication of whether the house has an attached garage. These data are listed in the file Housing.xlsx.

  

I. Estimate a multiple regression equation using all of the available explanatory variables to predict the selling price of residential properties.

 

II. Do you see any evidence of multicollinearity in this model? Explain.

 

III. Use stepwise regression to decide which explanatory variables should be included in the assessor’s statistical model. Use p-value method with cutoff value of 0.05 for entering and leaving.

 

IV. Compare results of the stepwise regression with the results of the multiple regression and summarize your findings.

 

 

 

Question 2: [15 points] The file Top40.xlsx contains data on the top 40 golfers in 2008. This was the year when Tiger Woods won the U.S. Open in June and then had year-ending surgery directly afterward. Using all 40 golfers, run a forward stepwise regression of Earning per Round versus all the potential explanatory variables. Then create a second data set that omits Tiger Woods and repeat the regression on this smaller data set. Are the results about the same? Explain the effect, if any, of the Tiger woods outlier on the regression. In so doing, also provide scatter plots of Earning per Round vs. Wins for both data sets and compare them.

Subject Mathematics
Due By (Pacific Time) 08/07/2014 12:00 am
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