Assignment Content material
Goal
This assignment provides an opportunity to develop, consider, and apply bivariate and multivariate linear regression fashions.
Assets: Microsoft Excel®, DAT565_v3_Wk5_Data_File
Directions:
The Excel file for this assignment accommodates a database with details about the tax Assessment worth assigned to medical workplace buildings in a metropolis. The next is a listing of the variables within the database:
FloorArea: sq. ft of flooring area
Places of work: variety of workplaces within the constructing
Entrances: variety of buyer entrances
Age: age of the constructing (years)
AssessedValue: tax Assessment worth (hundreds of )
Use the info to assemble a mannequin that predicts the tax Assessment worth assigned to medical workplace buildings with particular traits.
Assemble a scatter plot in Excel with FloorArea because the impartial variable and AssessmentValue because the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the two variables?
Use Excel’s Assessment ToolPak to conduct a regression Assessment of FloorArea and AssessmentValue. Is FloorArea a big predictor of AssessmentValue?
Assemble a scatter plot in Excel with Age because the impartial variable and AssessmentValue because the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the two variables?
Use Excel’s Assessment ToolPak to conduct a regression Assessment of Age and Assessment Worth. Is Age a big predictor of AssessmentValue?
Assemble a a number of regression mannequin.
Use Excel’s Assessment ToolPak to conduct a regression Assessment with AssessmentValue because the dependent variable and FloorArea, Places of work, Entrances, and Age as impartial variables. What’s the total match r^2? What’s the adjusted r^2?
Which predictors are thought-about vital if we work with α=zero.05? Which predictors will be eradicated?
What’s the closing mannequin if we solely use FloorArea and Places of work as predictors?
Suppose our closing mannequin is:
AssessedValue = 115.9 + zero.26 x FloorArea + 78.34 x Places of work
What wouldbe the assessed worth of a medical workplace constructing with a flooring space of 3500 sq. ft., 2 workplaces, that was constructed 15 years in the past? Is that this assessed worth according to what seems within the database?
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