Abstract
Consider the example of house prices that we saw in the last chapter. It is reasonable to ask one or more of the following questions:
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(a)
Is the selling price affected by the number of rooms in a house, given that the other independent variables (e.g., floor area, lot size) remain the same?
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(b)
Suppose the realtor says that adding a garage will add $5000 to the selling price of the house. Can this be true?
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(c)
Do lot size and floor area affect the price equally?
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(d)
Does either lot size or floor area have any effect on prices?
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(e)
Can it be true that storm windows add $6000 and a garage adds $4000 to the price of a house?
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© 1990 Springer Science+Business Media New York
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Sen, A., Srivastava, M. (1990). Tests and Confidence Regions. In: Regression Analysis. Springer Texts in Statistics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-25092-1_3
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DOI: https://doi.org/10.1007/978-3-662-25092-1_3
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