Question: Question 1 Using regression analysis, a real estate broker has found the following formula to set up Listing prices (LP) for townhouse properties in a

Question 1 Using regression analysis, a real

Question 1 Using regression analysis, a real estate broker has found the following formula to set up Listing prices (LP) for townhouse properties in a specific neighbourhood: LP= 750 * (the habitable area in sq.ft.) + 30000 * (the sum of number of bedrooms plus number of bathrooms) - 15000 * (the age of the building). This result came with an R of 0.92. What Listing price will this broker set up for a townhouse in that same neighbourhood with an area of 1600 sq.ft, featuring 4 bedrooms and 3.5 bathrooms, in a building built in 2003? What does R' of 0.92 indicate to the broker? Question 2

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