Table 3.

Results of ordinary least squares regression model diagnostics and spatial dependence tests used in the Hedonic Pricing Model for Lakeland, Tennessee, USA.

	Test	Values	P-values
Model fit	Adjusted R²	0.923
Model significance	Joint F-Statistic	718.593	0.0000^*
Heteroscedasticity	Breusch-Pagan	464.675	0.0000^*
Spatial dependence	Moran’s I	0.452	0.0000^*
	Lagrange Multiplier (lag)	2.564	0.1093
	Lagrange Multiplier (error)	143.218	0.0000^*

↵* Statistical significance at P < 0.01.
n = 1,257