You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes...

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You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales to estimate what the actual auction price will be. Loan $ 85,616 111,834 110,890 117, 157 97,600 104,400 113,800 116,400 100,000 92,800 105,200 105,900 94,700 105,600 104, 100 85,700 113,600 119,400 90,600 104,500 Monthly Payments $1,037.10 937.46 752.28 951.89 827.66 983.27 1,075.54 1,087.16 900.01 683.11 915.24 905.67 810.70 891.33 864.38 1,074.73 871.61 1,021.23 836.46 1,056.37 Payments Made 1 38 3 18 12 22 35 33 36 NN WWww. 34 38 25 20 325 7 30 24 58 22 Auction Price $17,625 56,775 46,275 16,600 40,700 63,100 72,600 72,300 58,100 37,100 52,600 51,900 43,200 52,600 42,700 22,200 77,000 69,000 35,600 63,000 Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant. Click here for the Excel Data File Loan ($)yments (yments MaAuction ($) 17625 56775 46275 16600 40700 63100 72600 35 72300 33 58100 36 37100 34 52600 38 51900 25 43200 20 52600 7 42700 30 22200 24 77000 69000 35600 63000 85616 1037.1 111834 937.46 110890 752.28 117157 951.89 97600 827.66 104400 983.27 113800 1075.54 116400 1087.16 100000 900.01 92800 683.11 105200 915.24 105900 905.67 94700 810.7 105600 891.33 104100 864.38 85700 1074.73 113600 871.61 119400 1021.23 90600 836.46 104500 1056.37 1 38 6 3 18 12 22 58 3 22 Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant. Click here for the Excel Data File Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Auction Price = Predictor Constant Loan Monthly Payment Payments Made X1X3 Loan + Complete the following table. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Coefficient Monthly Pay SE Coefficient p-v Compute the t-value corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) t-value Do a test of the null hypothesis to check if the interaction is significant. (Use the 0.05 significance level.) This is so we conclude that there is F You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales to estimate what the actual auction price will be. Loan $ 85,616 111,834 110,890 117, 157 97,600 104,400 113,800 116,400 100,000 92,800 105,200 105,900 94,700 105,600 104, 100 85,700 113,600 119,400 90,600 104,500 Monthly Payments $1,037.10 937.46 752.28 951.89 827.66 983.27 1,075.54 1,087.16 900.01 683.11 915.24 905.67 810.70 891.33 864.38 1,074.73 871.61 1,021.23 836.46 1,056.37 Payments Made 1 38 3 18 12 22 35 33 36 NN WWww. 34 38 25 20 325 7 30 24 58 22 Auction Price $17,625 56,775 46,275 16,600 40,700 63,100 72,600 72,300 58,100 37,100 52,600 51,900 43,200 52,600 42,700 22,200 77,000 69,000 35,600 63,000 Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant. Click here for the Excel Data File Loan ($)yments (yments MaAuction ($) 17625 56775 46275 16600 40700 63100 72600 35 72300 33 58100 36 37100 34 52600 38 51900 25 43200 20 52600 7 42700 30 22200 24 77000 69000 35600 63000 85616 1037.1 111834 937.46 110890 752.28 117157 951.89 97600 827.66 104400 983.27 113800 1075.54 116400 1087.16 100000 900.01 92800 683.11 105200 915.24 105900 905.67 94700 810.7 105600 891.33 104100 864.38 85700 1074.73 113600 871.61 119400 1021.23 90600 836.46 104500 1056.37 1 38 6 3 18 12 22 58 3 22 Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant. Click here for the Excel Data File Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Auction Price = Predictor Constant Loan Monthly Payment Payments Made X1X3 Loan + Complete the following table. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) Coefficient Monthly Pay SE Coefficient p-v Compute the t-value corresponding to the interaction term. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) t-value Do a test of the null hypothesis to check if the interaction is significant. (Use the 0.05 significance level.) This is so we conclude that there is F