A property developer asked an analyst to investigate the relationship between the sale price ($000) of one bedroom apartments and the distance (km) from the city centre. The analyst presented the following Excel Regression output to summarise the findings.

Regression Statistics

Multiple R 0.663

R Square 0.440

Adjusted R Square 0.370

Standard Error 7.410

Observation 10

Coefficients Standard error t Stat P-value Lower 95% Upper 95%

Intercept

494.372 5.002 98.840 1.23E-13 482.838 505.906

distance(km) -0.805 0.321 -2.506 0.0366 -1.545 -0.064

A) Write down the regression equation, using names of variables.

B) Provide a practical interpretation for the coefficient of distance.

C) Interpret the coefficient of determination in the context of this question.