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    Question 4 Explanation File

    Uploaded by

    Sarange Fortune
    This document contains an explanation of results from a quantitative methods exam involving a regression analysis of factors that influence monthly rent prices. It summarizes the results of 4 parts of the exam involving regressions with different variables. For each part, it reports the estimated coefficients, significance of the variables, and implications for how changes in beds, baths and square footage would affect monthly rent. It concludes by providing the predicted monthly rent values from parts D and E.

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    Question 4 Explanation File

    Uploaded by

    Sarange Fortune
    50 views3 pages
    This document contains an explanation of results from a quantitative methods exam involving a regression analysis of factors that influence monthly rent prices. It summarizes the results of 4 parts of the exam involving regressions with different variables. For each part, it reports the estimated coefficients, significance of the variables, and implications for how changes in beds, baths and square footage would affect monthly rent. It concludes by providing the predicted monthly rent values from parts D and E.

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    This document contains an explanation of results from a quantitative methods exam involving a regression analysis of factors that influence monthly rent prices. It summarizes the results of 4 parts of the exam involving regressions with different variables. For each part, it reports the estimated coefficients, significance of the variables, and implications for how changes in beds, baths and square footage would affect monthly rent. It concludes by providing the predicted monthly rent values from parts D and E.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    50 views3 pages

    Question 4 Explanation File

    Uploaded by

    Sarange Fortune
    This document contains an explanation of results from a quantitative methods exam involving a regression analysis of factors that influence monthly rent prices. It summarizes the results of 4 parts of the exam involving regressions with different variables. For each part, it reports the estimated coefficients, significance of the variables, and implications for how changes in beds, baths and square footage would affect monthly rent. It concludes by providing the predicted monthly rent values from parts D and E.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Zykia Williams

    UNCP

    Quantitative Methods

    Exam 1

    Question 4 Explanation File

    Part A

    Beds: The estimated coefficient for Beds is 225.80998. This indicates that, holding Baths and

    Sqft constant, a one-unit increase in the number of Beds is associated with an increase of

    $225.80998 in monthly rent.

    Baths: The estimated coefficient for Baths is 89.26613. This suggests that, holding Beds and Sqft

    constant, a one-unit increase in the number of Baths is associated with an increase of $89.26613

    in monthly rent.

    Sqft: The estimated coefficient for Sqft is 0.20957. This indicates that, holding Beds and Baths

    constant, a one-unit increase in Sqft is associated with an increase of $0.20957 in monthly rent.

    The intercept is 300.41160. This means that the standard rent before incorporating the three

    predictor variables above is $300.41160

    From the output, we can see that the p-value for Beds is 0.000634, the p-value for Baths is

    0.119466, and the p-value for Sqft is 0.027582. The p-values for beds and Sqft are less than 0.05

    meaning these two variables are statistically significant. The p-value for baths, however, implies

    statistical insignificance.
    Part B

    Beds: The estimated coefficient for Beds is 324.23772. This indicates that a one-unit increase in

    the number of Beds is associated with an increase of $324.23772 in monthly rent.

    Baths: The estimated coefficient for Baths is 34.32566. This suggests that a one-unit increase in

    the number of Baths is associated with an increase of $34.32566in monthly rent.

    Sqft: The estimated coefficient for Sqft is 10.4253. This indicates that a one-unit increase in Sqft

    is associated with an increase of $1.04253 in monthly rent.

    Beds:Sqft: The estimated coefficient for Sqft is -0.16784. This indicates that a one-unit increase

    in Beds:Sqft is associated with a decline of $0.16784 in monthly rent.

    From the output, we can see that the p-value for Beds is 0.000000293, the p-value for Baths is

    0.453, the p-value for Sqft is 0.00000229, and the p-value for Beds:Sqft is 0.0000226. The p-

    values for beds, Sqft, and Beds:Sqft are less than 0.05 meaning these three variables are

    statistically significant. The p-value for baths, however, implies statistical insignificance.

    Part C

    Beds: The estimated coefficient for Beds is 0.0262. This indicates that, holding Baths and Sqft

    constant, a one-unit increase in the number of Beds is associated with an increase of $0.0262 in

    monthly rent.

    Baths: The estimated coefficient for Baths is 0.008313. This suggests that, holding Beds and Sqft

    constant, a one-unit increase in the number of Baths is associated with an increase of $0.008313

    in monthly rent.
    Sqft: The estimated coefficient for Sqft is 0.00006448. This indicates that, holding Beds and

    Baths constant, a one-unit increase in Sqft is associated with an increase of $0.00006448 in

    monthly rent.

    From the output, we can see that the p-value for Beds is 0.0000205, the p-value for Baths is

    0.0602, and the p-value for Sqft is 0.3622. The p-values for beds is less than 0.05 meaning the

    variable is statistically significant. The p-value for baths and SqFt, however, imply statistical

    insignificance.

    Part D

    The predicted value for the monthly rent is 1458.508

    Part E

    The predicted value for the monthly rent is 1492.834. This implies that as the number of baths

    increase, the monthly rent also increases.

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