Question: Recode the Bedrooms categorical variable to be Bed3 = 1 if the home has three or more bedrooms and Bed3 = 0 if it does

$Recode the \"Bedrooms\" categorical variable to$

Recode the \"Bedrooms\" categorical variable to be Bed3 = 1 if the home has three or more bedrooms and Bed3 = 0 if it does not. Bed3 is called as Dummy variable (indicator variable). Excel Output (5p) a. Run the regression analysis including the variables of price and the dummy variable, Bed3 and write the regression equation. (2p) b. What proportion of variance in the price of the house can be explained by the number of bedrooms of the house? Is this proportion of variance statistically significant at .05 level of significance? Justify your answer. (4p)

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