Prediction interval based on multiple-regression equation

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Reference no: EM1313334

In a study of housing demand the county assessors interested in developing a regression model to estimate the market value ( i.e., selling price ) of residential property within her jurisdiction. In addition, the assessor feels that there may be other important variables that will affect the market value of the house such as the size of the house, number of rooms, age and whether the house has an attached garage. These data for 15 randomly selected houses are shown in the attached table'

Construct a 98% prediction interval for the selling price of a 4l- year old house having 4500 square feet, 13 rooms, and an attached garage.

Reference no: EM1313334

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Prediction interval based on multiple-regression equation : Construct a 98% prediction interval for the selling price of a 4l- year old house having 4500 square feet, 13 rooms, and an attached garage.

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