I am attempting to build a simple multiple regression in order to estimate the value of a home. The 5 datapoints are 5 comparable home sales (similar in size, lot, location, # of bedrooms, etc...).
If you run such a model, the software will say you need one more datapoint than variables.
So, how about if I take my 5 comparable home sales and duplicate them 4 times. So, now I have 20 datapoints. The software should be able to run the related multiple regression.
I anticipate that you will answer that this methodology is flawed because underlying all that you still have only 5 differentiated datapoints. But, can you flesh out this rebuttal a bit further.
Also, can you suggest any alternative method to resolve this constraint.