The following data on sale price, size, and land to building ratio for 10 large industrial properties appeared in the paper €œUsing Multiple Regression Analysis in Real Estate Appraisal€(Appraisal Journal [ 2002]: 424€“ 430):

a. If you wanted to predict sale price and you could use either size or land to building ratio as the basis for making predictions, which would you use? Explain.
b. Based on your choice in Part (a), find the equation of the least squares regression line for predicting sale price.

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Sale Price (militions of (thousands of Building size Land-to Property ollas) 10.6 2.6 30.5 1.8 sq.ft.) 2.166 751 2422 224 Ratlo 2.0 3.5 3.6 4.7 2 Land-to Ratio 1.7 2.3 3.1 4.8 7.6 17.2 Sale Price (milions of Size (thousands f Building Propertydolas) sq.ft.) 3,917 2.866 1.698 1,046 1,108 5 20.0 8.0 10.0 6.7 5.8 4.5 10 405