Question: Please break down for a student thank you! Problem 3: Use the following to answer parts a) - f): An LCCC Statistics professor has unfortunately

Please break down for a student thank you!

Please break down for a student thank you! Problem 3: Use the

Problem 3: Use the following to answer parts a) - f): An LCCC Statistics professor has unfortunately found herself attempting to buy a house in this "seller's market". She currently rents an apartment in Lakewood, OH and is hoping to stay in that same community. She has obtained data from Zillow for 3-bedroom homes (with at least 1.5 bathrooms) in Lakewood from the last two months and used this data to create the following least squares regression equation to predict Selling Price from the Listing Price. Use this given regression equation to answer the following: Selling Price = -34,669.25 + 1.23(Listing Price) a) (1 point) Identify the slope of the line: Slope b) (2 points) Interpret the slope of the line in context. c) (1 point) Identify the intercept of the line: Intercept =_ d) (2 points) if it is reasonable to do so, interpret the intercept in context. If it is not reasonable, explain why not. e) (2 points) One of the houses in which the professor was particularly interested, was listed for sale at $214,900. Use the given regression equation to calculate the predicted selling price for this house. Show your work in the space below. Predicted Selling Price = f) (2 points) The house described in part e) ended up selling to a different buyer for $250,0001 Calculate the residual for this house. Show your work in the space below

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