Develop an appropriate multiple regression equation

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A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, 0 for no), and the total years of education beyond high school for the husband and wife. The sample information is reported below.

Family 1 2 3 4 5 6 7 8 9 10
SqrFt 2240 2380 3640 3360 3080 2940 4480 2520 4200 2800
Income 60.8 68.4 104.5 89.3 72.2 114 125.4 83.6 133 95
Size 2 2 3 4 4 3 6 3 5 3
Senior 0 1 0 1 0 1 0 0 0 0
Education 4 6 7 0 2 10 6 8 2 6

Develop an appropriate multiple regression equation. Which independent variables would you include in the final regression equation? Use the stepwise method.

Reference no: EM132854486

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