Question: Question 3 20 points John Doe is a student at UML. He wants to study the relationship between the average housing price in Lowell, and

Question 3 20 points John Doe is a student at

Question 3 20 points John Doe is a student at UML. He wants to study the relationship between the average housing price in Lowell, and the size of the house. For this research, the dependent variable is the average housing price, and the independent variable is the square footage of the house. The Excel output is presented below. SUMMARY OUTPUT Regression Statistics Multiple R 0.6951 R Square 0.483 Adjusted R Square 0.474) Standard Error 55.278 Observations 21 ANOVA df F 32.70311 Significance F 0 .00016 1 Regression Residual Total MS 99929.47 3055.657 1 19 20 | SS 99929.47 58057.48 157987 | Standard Error 35.53407 0.819024 Coefficients 110.47 16.831 Intercept X t Stat 3.109087 5.718663 P-Value 0.0057 0.00016 (a) What is the predicted equation for this regression? (b) Based on his model, each additional square foot in housing size increases the average housing price by how much? (c) Based on the significance F-test, does this model provide a good prediction? (d) What percent of the variation in average housing price is explained by the size of the house? (e) Can the null hypothesis that the slope is zero be rejected? Why or why not

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