A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, 0 for no), and the total years of education beyond high school for the husband and wife. The sample information is reported here.

Develop an appropriate multiple regression equation. Which independent variables would you include in the final regression equation? Use the stepwise method. Write out the regression equation. Report and interpret the adjusted R2.

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Square Feet Income Family Size Senior Family (000s) Parent Education 2,240 60.8 2 4 2 2,380 68.4 2 1 6 3 3,640 3,360 104.5 3 7 89.3 4 1 3,080 72.2 4 2 2,940 4,480 114 3 1 10 7 125.4 6. 6 8 2,520 83.6 3 8 9 4,200 2,800 133 5 2 10 95 3 6.