Wk 5 - Apply: Retreat Modeling [due Mon]
This enactment provides an occasion to eliminate, evaluate, and employ bivariate and multivariate rectirectirectidirect retreat moulds.
Resources: Microsoft Excel®, DAT565_v3_Wk5_Data_File
The Excel refine for this enactment contains a postulatesbase after a while notification about the tax duty appraise assigned to medical service edifices in a city. The aftercited is a roll of the fickles in the postulatesbase:
o FloorArea: clear feet of pavement space
o Offices: sum of services in the edifice
o Entrances: sum of customer entrances
o Age: age of the edifice (years)
o AssessedValue: tax duty appraise (thousands of dollars)
Use the postulates to compose a mould that predicts the tax duty appraise assigned to medical service edifices after a while peculiar characteristics.
o Compose a disseminate contrive in Excel after a while FloorArea as the stubborn fickle and AssessmentValue as the resting fickle. Insert the bivariate rectirectirectidirect retreat equation and r^2 in your graph. Do you behold a rectirectirectidirect analogy betwixt the 2 fickles?
o Use Excel’s Dissection ToolPak to persuade a retreat dissection of FloorArea and AssessmentValue. Is FloorArea a symbolical predictor of AssessmentValue?
o Compose a disseminate contrive in Excel after a while Age as the stubborn fickle and AssessmentValue as the resting fickle. Insert the bivariate rectirectirectidirect retreat equation and r^2 in your graph. Do you behold a rectirectirectidirect analogy betwixt the 2 fickles?
o Use Excel’s Dissection ToolPak to persuade a retreat dissection of Age and Duty Value. Is Age a symbolical predictor of AssessmentValue?
Construct a multiple retreat mould.
o Use Excel’s Dissection ToolPak to persuade a retreat dissection after a while AssessmentValue as the resting fickle and FloorArea, Offices, Entrances, and Age as stubborn fickles. What is the overall fit r^2? What is the adjusted r^2?
o Which predictors are considered symbolical if we production after a while α=0.05? Which predictors can be eliminated?
o What is the latest mould if we singly use FloorArea and Offices as predictors?
o Suppose our latest mould is:
o AssessedValue = 115.9 + 0.26 x FloorArea + 78.34 x Offices
o What wouldbe the assessed appraise of a medical service edifice after a while a pavement area of 3500 sq. ft., 2 services, that was built 15 years ago? Is this assessed appraise congruous after a while what appears in the postulatesbase?
Submit your enactment.
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