Janice Carrillo, a Gainesville, Florida, real estate developer, has devised a regression model to help determine residential housing prices in northeastern Florida. The model was developed using recent sales in a particular neighborhood. The price (Y) of the house is based on the size (square footage = X) of the house.

The model is: Y = 12,973 37.65x .

The coefficient of correlation for the model is 0.68.

Part 2 a) Using the above model, the selling price of a house that is square feet = $ 86767 (enter a whole number).

Part 3 b) A 1,960 -square-foot house recently sold for $99,000, which is different than the predicted value. This is possible as the forecast represents the average value.

Part 4 c) To make this model more realistic, additional quantitative variables that could be included in a multiple regression model are (select the choice that has all the factors that are quantifiable): A. The age of the house, the number of bedrooms, and the size of the lot. B. The age of the house, the location of the house, and the size of the garage. C. The size of the lot, the number of bedrooms, and the layout of the rooms.

Part 5 d) For the given model, the value of the coefficient of determination = _____ enter your response here. (round your response to three decimal places).

Please answer Part 5d only. Please add an explanation on how to do it...thanks