Multiple Regression. Want to find the best linear relationship between a dependent variable, Y, (Price), and 3 independent variables X 1 (Sq. Feet), X.

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Presentation transcript:

Multiple Regression

Want to find the best linear relationship between a dependent variable, Y, (Price), and 3 independent variables X 1 (Sq. Feet), X 2 (Land), and X 3 (Age).

Using Excel to Get the  ’s Go to TOOLS/DATA ANALYSIS/REGRESSION Note B1:D39 Must be a contiguous range

The regression equation: ŷ = x x 2 – x 3 P-value for F-test = <.05 At least 1 independent variable is significant Sq. Feet p-value = Land p-value = Age p-value = Sq. Feet and Age are significant IN THIS MODEL!!!