CH15 – Analyzing Regression Equations for Predicting House Selling Prices in Ft. Thomas, Kentucky

Essentials of Modern Business Statistics with Microsoft® Excel®

Anderson, Sweeney, Williams, Camm, and Cochran

07th Edition

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fit by comparing the adjusted R^2 value to the threshold of 45%. The adjusted R^2 value indicates that the model provides a reasonable fit to the data. Compare this to a simpler model that only includes square footage and number of bedrooms as independent variables to assess the fit. The adjusted R^2 for the simpler model is, which is than the adjusted R^2 of the original model.

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