For a small sample of suburban homes recently sold, the selling price ($), living space (square feet), and suburban area (Sunny Haven, Easy Acres, or Rolling Hills) have been recorded. Given the data shown here, determine the linear regression equation for estimating selling price based on the other variables. For any qualitative variables that are used, be sure to specify the coding strategy employed for each. Comment on the explanatory power of the regression equation and interpret the partial regression coefficients.
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