Question: Refer to the previous two exercises. a. Explain the difference between the residual standard deviation of 52,771.5 and the standard deviation of 56,357 reported for

Refer to the previous two exercises.

a. Explain the difference between the residual standard deviation of 52,771.5 and the standard deviation of 56,357 reported for the selling prices.
b. Since they€™re not much different, explain why this means that number of bedrooms is not strongly associated with selling price. Support this by reporting and interpreting the value of r2.

Variable Mean StDev Mininum 1 Median 3 Maximum price Bed- rooms Predictor Constant Bedrooms S 52771.5 126698 56357 21000 86625 123750 155625 338000 2.990 0.659 1.000 3.000 3.000 3.000 5.000 Coef SE Coef T 33778 24637 1.37 0.173 31077 8049 3.86 0.000 R-Sq 13.2%

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