Page 1: Multiple R 0.441 Question 1 (7 points) Saved Observations To investigate how the price (Price: measured in $1,000) of detached houses are ANOVA depending on the age (Age: in years old). A random sample of 40 detached houses was drawn. Make use of the following Excel output and answer the questions below. SS MS F Significance F Regression 831.95 831.95 6.23 0.017 SUMMARY OUTPUT Residual 5073.94 20.25 Total 5905.90 Regression Statistics Multiple R 3.441 Observations 40 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% ANOVA Intercept 68.20 3.47 13.65 0.00 40.30 54.33 40.30 54.33 MS Significance F Age 0.55 0.17 -2.50 0.02 0.77 0.08 0.77 0.08 Regression 831.95 831.95 6.23 0.017 Residual 5073.94 20.25 Total 5905.90 a) Write out the least square regression line. [2] Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 68.20 3.47 13.65 0.0 40.30 54.33 40.30 54.33 b) Provide an interpretation of the slope estimate. [2] Age -0.55 0.17 -2.50 0.02 -0.77 0.08 -0.77 -0.08 a) Write out the least square regression line. [2] c) Provide an interval estimation when the age of the house is 26 years old, using b) Provide an interpretation of the slope estimate. [2] 95% confidence level. [3] c) Provide an interval estimation when the age of the house is 26 years old, using