23 Jun Where Price_of_Home: brief definition of dependent var
Where
Price_of_Home: brief definition of dependent variable
Square_Footage: brief definition of first independent variable
Number_Bedrooms: brief definition of second independent variable
Lot_Size: brief definition of third independent variable
[Note: student of course replaces these variable names with his/her own variable names.]
Definition of Variables
4) Define and defend all variables, including the dependent variable, in a single paragraph for each variable. Also, state the expectations for each independent variable. These paragraphs should be in numerical order, i.e., dependent variable, X1, then X2, etc.
In each paragraph, the following should be addressed:
< How is the variable defined in the data source? < Which unit of measurement is used? < For the independent variables: why does the variable determine Y? < What sign is expected for the independent variables coefficient, positive or negative? Why? Data Description 5) In one paragraph, describe the data and identify the data sources. < From which general sources and from which specific tables are the data taken? (Citing a website is not acceptable.) < Which year or years were the data collected? < Are there any data limitations? Presentation and Interpretation of Results 6) Write the regression (prediction) equation: Dep_Var = Intercept + c1 * Ind_Var_1 + c2 * Ind_Var_2 + c3 * Ind_Var_3 7) Identify and interpret the adjusted R2 (one paragraph): < Define “adjusted R2.” < What does the value of the adjusted R2 reveal about the model?
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