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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 on theme: "Multiple Regression. Want to find the best linear relationship between a dependent variable, Y, (Price), and 3 independent variables X 1 (Sq. Feet), X."— Presentation transcript:

1 Multiple Regression

2 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).

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

4 The regression equation: ŷ = 50128.37 +82.87971x 1 +322540.7x 2 – 4237.27x 3 P-value for F-test =.0000000746 <.05 At least 1 independent variable is significant Sq. Feet p-value =.0000839 Land p-value =.15501 Age p-value =.021931 Sq. Feet and Age are significant IN THIS MODEL!!!

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