Assignment Content
\nPurpose
\nThis assignment provides an opportunity to develop, evaluate, and apply bivariate and multivariate linear regression models.<\/p>\n
Resources: Microsoft Excel\u00ae, DAT565_v3_Wk5_Data_File<\/p>\n
Instructions:
\nThe Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database:
\nFloorArea: square feet of floor space
\nOffices: number of offices in the building
\nEntrances: number of customer entrances
\nAge: age of the building (years)
\nAssessedValue: tax assessment value (thousands of dollars)
\nUse the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics.<\/p>\n
Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
\nUse Excel\u2019s Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue?
\nConstruct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
\nUse Excel\u2019s Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue?
\nConstruct a multiple regression model.
\nUse Excel\u2019s Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea, Offices, Entrances, and Age as independent variables. What is the overall fit r^2? What is the adjusted r^2?
\nWhich predictors are considered significant if we work with \u03b1=0.05? Which predictors can be eliminated?
\nWhat is the final model if we only use FloorArea and Offices as predictors?
\nSuppose our final model is:
\nAssessedValue = 115.9 + 0.26 x FloorArea + 78.34 x Offices
\nWhat wouldbe the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago? Is this assessed value consistent with what appears in the database?<\/p>\n
—-<\/p>\n","protected":false},"excerpt":{"rendered":"
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