Question: Please show your work for how you got the regression equation PLEASE 1. 17.1 Xr17-01 A developer who specializes in summer cottage properties is considering
Please show your work for how you got the regression equation PLEASE
1. 17.1 Xr17-01 A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, she knows that the most important factors affecting the price of a lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots.
a. Find the regression equation.
Price |
105.4
91.2
183.3
93.8
207.5
130.9
162.3
18.8
80.5
38.3
71.3
55.5
85.7
110.5
85.1
78.3
27.2
70.9
101.4
133.3
117.7
49.7
49.6
83.2
81.3
152.5
112.2
37.1
130.2
39.1
81.9
24.6
101.9
117.6
148.8
60.2
43.7
113.1
38.1
89.2
3
55.8
89.7
136.1
44.7
63.2
163.4
64.1
98.7
139.9
92
66.6
16.4
131.9
11
27.9
103.5
107
51.6
133.4
-----------------------------------------------------------------------------
Lot size
41.2
44.8
21.3
43.9
57.7
33.4
31.4
27.4
26.2
40
47.6
31.6
21.6
36.3
47.2
30.5
41.8
20.6
35.3
40.1
35.6
20.6
22.4
45.8
29.4
51.7
27.2
37
38.9
32.5
34
35.8
32.9
46.4
51.9
28.9
35.2
30.4
38.3
49.2
21.5
41.9
21.8
66.3
28.2
41.9
46.7
32.1
38.5
27.6
47
20.7
34
31.9
28
40
46.6
23.2
46.4
32.1
----------------------------------------------------------------------------
Trees
24
5
72
58
52
78
65
22
68
57
53
36
23
48
61
41
1
20
38
68
24
16
32
77
40
60
0
50
48
25
12
16
44
62
59
0
57
70
24
61
46
10
79
56
73
64
69
12
59
0
65
24
12
76
2
52
26
11
53
55
--------------------------------------------------------------------------
Distance
42
71
43
14
12
26
51
0
83
76
35
26
24
98
59
55
60
33
75
0
41
77
86
19
0
34
16
49
63
45
0
34
42
48
39
66
77
78
62
0
83
69
62
34
77
65
27
0
77
0
37
51
75
63
42
84
70
83
44
98
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