Question: Please explain how to find answer for e and f using excel. What formula and numbers to use? Thanks:) Appraised Value Property Size Age 468.5
Please explain how to find answer for e and f using excel. What formula and numbers to use? Thanks:)

Appraised Value Property Size Age 468.5 0.2218 41 363.4 0.2198 57 421.5 0.1676 20 546.3 0.4676 20 408.9 0.2587 44 377.3 0.2275 84 311.9 0.1833 49 745.3 0.5026 9 210.1 0.2277 51 632.1 0.1385 11 351.7 0.1764 52 352.3 0.4221 41 350.8 0.2597 50 270.4 0.1164 17 304.8 0.1678 67 283.2 0.1705 52 395.2 0.3891 49 619.1 0.6502 44 313.1 0.1711 55 363.1 0.1414 73
A certain town is located approximately 25 miles east of a large city. The data organized below include the appraised value in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in the town. Develop a multiple linear regression model to predict appraised value based on land area of the property and age, in years. Complete parts (a) through (f). Click the icon to view the data table. c. Explain why the regression coefficient, bo, has no practical meaning in the context of this problem. O A. The interpretation of bo has no practical meaning here because it would represent the estimated land area of a new house with no appraised value. B. The interpretation of bo has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. O C. The interpretation of bo has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value. d. Predict the appraised value for a house that has a land area of 0.15 acres and is 30 years old. $ 393.34 thousand (Round to two decimal places as needed.) e. Construct a 95% confidence interval estimate for the the mean appraised value for houses that have a land area of 0.15 acres and is 30 years old. $ 321.5 thousands mean appraised values $ 465.2 thousand (Round to one decimal place as needed.) f. Construct a 95% prediction interval estimate for the the mean appraised value for houses that have a land area of 0.15 acres and is 30 years old. $ 235.8 thousands mean appraised values $ 550.9 thousand (Round to one decimal place as needed.) Enter your answer in the edit fields and then click Check Answer ? A certain town is located approximately 25 miles east of a large city. The data organized below include the appraised value in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in the town. Develop a multiple linear regression model to predict appraised value based on land area of the property and age, in years. Complete parts (a) through (f). Click the icon to view the data table. c. Explain why the regression coefficient, bo, has no practical meaning in the context of this problem. O A. The interpretation of bo has no practical meaning here because it would represent the estimated land area of a new house with no appraised value. B. The interpretation of bo has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. O C. The interpretation of bo has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value. d. Predict the appraised value for a house that has a land area of 0.15 acres and is 30 years old. $ 393.34 thousand (Round to two decimal places as needed.) e. Construct a 95% confidence interval estimate for the the mean appraised value for houses that have a land area of 0.15 acres and is 30 years old. $ 321.5 thousands mean appraised values $ 465.2 thousand (Round to one decimal place as needed.) f. Construct a 95% prediction interval estimate for the the mean appraised value for houses that have a land area of 0.15 acres and is 30 years old. $ 235.8 thousands mean appraised values $ 550.9 thousand (Round to one decimal place as needed.) Enter your answer in the edit fields and then click CheckStep by Step Solution
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