Refer to Scenario 2. Based on the 95 percent confidence intervals for

Refer to Scenario 2. Based on the 95 percent confidence intervals for each of the partial regression coefficients, which independent variable is statistically different from zero and why?

What will be an ideal response?

ANSWER

The 95 percent confidence interval for the coefficient on House Age is -2053.5662 to 403.243744 and the 95 percent confidence interval for the coefficient on Square Feet is 27.3660835 to 54.4560534. Since, zero resides in the confidence interval for the coefficient on House Age, one can conclude that the coefficient is not statistically different from zero.