Regression Modeling
Use Excel’s Analysis ToolPak to conduct a regression analysis of Floor Area and Assessment Value. Is FloorArea a significant predictor of Assessment Value?
Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?
Use Excel’s Analysis Tool Pak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of Assessment Value?
Use Excel’s Analysis Tool Pak to conduct a regression analysis with Assessment Value as the dependent variable and Floor Area, Offices, Entrances, and Age as independent variables. What is the overall fit r^2?
What is the adjusted r^2?
Which predictors are considered significant if we work with α=0.05? Which predictors can be eliminated?
What is the final model if we only use FloorArea and Offices as predictors?
What would be 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?
