Question: Jersey Shore Realtors would like to develop a regression model to help it set weekly rental rates for beach properties during the summer season in

Jersey Shore Realtors would like to develop a regression model to help it set weekly rental rates for beach properties during the summer season in New Jersey. The independent variables for this model are the number of bedrooms a property has, its age in years, and the number of blocks away from the ocean it is. The data for randomly selected rental properties can be found in the Excel file Jersey Shore Realtors 1.xlsx.

a. Construct a regression model using all three independent variables.

b. Calculate the multiple coefficient of determination.

c. Test the significance of the overall regression model using α = 0.05.

d. Calculate the adjusted multiple coefficient of determination.

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