Call: Im (formula = priceM2 - age + distMet + latitude + longitude, data = RealEstate) Residuals: Min 10 Median 30 Маx -33.069 -5.343 -1.050 4.410 71.305 Coefficients: t value -0.563 Estimate Std....

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Call:<br>Im (formula = priceM2<br>- age + distMet + latitude + longitude,<br>data = RealEstate)<br>Residuals:<br>Min<br>10<br>Median<br>30<br>Маx<br>-33.069<br>-5.343<br>-1.050<br>4.410<br>71.305<br>Coefficients:<br>t value<br>-0.563<br>Estimate<br>Std. Error<br>Pr (>|t|)<br>(Intercept)<br>-3.650e+03<br>6.478e+03<br>0.573<br>Age<br>-2.526e-01<br>4.060e-02<br>-6.221<br>1.22e-09 ***<br>distMet<br>-5.875e-03<br>7.027e-04<br>-8.361<br>9.88e-16 ***<br>4.655e+01<br>5.120e+01<br>latitude<br>2.714e+02<br>5.830<br>1.13e-08 ***<br>longitude<br>-2.532e+01<br>-0.495<br>0.621<br>---<br>Signif. codes:<br>O '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1<br>Residual standard error: 9.355 on 409 degrees of freedom<br>Multiple R-squared:<br>F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16<br>0.5319, Adjusted R-squared: 0.5273<br>f) A new variable is added to the model which is longitude of the residence. Summary output is given<br>above. What do you think of the new model? Do you think this variable should be added to the model,<br>why? (15p)<br>

Extracted text: Call: Im (formula = priceM2 - age + distMet + latitude + longitude, data = RealEstate) Residuals: Min 10 Median 30 Маx -33.069 -5.343 -1.050 4.410 71.305 Coefficients: t value -0.563 Estimate Std. Error Pr (>|t|) (Intercept) -3.650e+03 6.478e+03 0.573 Age -2.526e-01 4.060e-02 -6.221 1.22e-09 *** distMet -5.875e-03 7.027e-04 -8.361 9.88e-16 *** 4.655e+01 5.120e+01 latitude 2.714e+02 5.830 1.13e-08 *** longitude -2.532e+01 -0.495 0.621 --- Signif. codes: O '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1 Residual standard error: 9.355 on 409 degrees of freedom Multiple R-squared: F-statistic: 116.2 on 4 and 409 DF, p-value: < 2.2e-16="" 0.5319,="" adjusted="" r-squared:="" 0.5273="" f)="" a="" new="" variable="" is="" added="" to="" the="" model="" which="" is="" longitude="" of="" the="" residence.="" summary="" output="" is="" given="" above.="" what="" do="" you="" think="" of="" the="" new="" model?="" do="" you="" think="" this="" variable="" should="" be="" added="" to="" the="" model,="" why?="">

Jun 08, 2022

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Call: Im (formula = priceM2 - age + distMet + latitude + longitude, data = RealEstate) Residuals: Min 10 Median 30 Маx -33.069 -5.343 -1.050 4.410 71.305 Coefficients: t value -0.563 Estimate Std....

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