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Question Completion Status: Use the corresponding statistical output (on the Excel worksheet here Answer Sheet F5.xlsx) to answer the following questions. a. Which variable has the strongest relationship with home value? Describe the type and strength of this relationship and what it means for a real estate investor. b. How well does the regression model predict Home Value? Explain. c. What is the regression formula for predicting Home Value (the expected value of a house) based on the given criteria? d. What are the expected home values for each of the houses below? e. Which home would you recommend purchasing? Why? Distance to Downtown Square Footage 1,500 3,800 2,100 Crime Index 4 House North Hills Sequoyah Ave. Fountain Park 1.30 0.75 0.65 7 3 TT T Arial 3 (12pt) III 110 S 2 ES Question Completion Question 3 of 3 5 A Click Submit to complete this assessment. 60 points Save Answer Question 3 You are in the investment real estate business and are interested in using regression to help decide which home would be the best long-term investment. You have decided to use three pieces of information to make decisions regarding which home to purchase. Square Footage: the square footage of a house Distance to Downtown (in miles): the distance in miles a house is located from downtown Crime Index (Scale: 1-10): a measure of the prevalence of crime in the area where a house is located; higher values indicate more crime. Below is a sample from previous homes for these factors. Crime Index 9 House Sutherland Ave. Country Club Way Gossett Lake Holston Square Footage 3,209 1,817 2,587 2,184 Distance to Downtown 6 12 13 4 Home Value (in 1,000s) $158 $349 $200 $183 4 5 3 Use the corresponding statistical output (on the Excel worksheet here Answer Sheet F5.xlsx ) to answer the following questions. a. Which variable has the strongest relationship with home value? Describe the type and strength of this relationship and what it means for a real estate investor b. How well does the regression model predict Home Value? Explain