Question: please solve in excel and show all formulas Problem 4. Data in this template include the appraised value (in $1000s), land area of the property
please solve in excel and show all formulas
Problem 4. Data in this template include the appraised value (in $1000s), land area of the property (in acres), and age (in years) for a sample of 36 single-family homes located in Glen Cove, a small city in Nassau County, NY. Develop a multiple linear regression model and: a) State the multiple regression equation. b) Interpret the meaning of the slops bl and b2. c) Highlight the coefficient of determination and explain its meaning. d) Predict the appraised value for a house that has a land area of 0.32 acres and is 52 years old. e) Is there a linear relationships between 1) Appraised value and Acres? 2) Appraised value and Age? A B C 2 3 Appraised Value ($1000s) 477.0 Land (acres) Age (years) 4 0.3407 51 5 375.0 0.3302 56 6 440.0 34 0.2740 0.5718 7 559.4 23 8 51 416.9 385.1 326.0 0.3659 0.3400 9 93 10 0.2918 53 11 760.7 0.6125 12 12 228.7 57 13 646.7 20 0.3339 0.2410 0.2873 0.5310 14 361.7 59 15 466.0 53 16 367.2 0.3630 51 17 282.7 17 0.2258 0.2803 18 315.3 69 19 299.4 0.2824 57 & 20 407.7 49 0.4959 0.7655 2.1 624.5 51 A B. 19 299.4 0.2824 57 20 407.7 0.4959 49 21 624.5 0.7655 51 22 325.1 0.2832 57 23 374.5 0.2545 83 24 375.3 0.3865 76 25 316.1 0.2258 102 26 452.7 0.4746 50 27 364.1 0.2584 46 28 474.3 0.3391 45 29 331.0 0.5736 87 30 343.8 0.2999 59 31 287.6 0.2338 49 32 408.0 0.2602 39 33 232.9 0.1962 99 34 288.4 0.1714 52 35 396.7 0.3849 44 36 613.5 46 0.6545 0.1722 37 52 314.1 363.5 38 0.1435 78 39 364.3 0.2755 71


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