Question: Regression Analysis: Price versus Lot Size Regression Equation Pric = 670 e + 33.4 Lot Size Coefficients SE T- P- Term Coef Coef Value Value

Regression Analysis: Price versus Lot Size Regression Equation Pric = 670 e + 33.4 Lot Size Coefficients SE T- P- Term Coef Coef Value Value VIF Consta 670 160 4.19 0.001 nt Lot Size 33.4 23.1 1.45 0.172 1.0 0 Model Summary R- R- S R-sq sq(adj) sq(pred) 203.17 13.87 7.24% 0.00% 1 % Analysis of Variance Adj F- Source DF SS Adj MS Value Value Regressio 1 86403 86403 2.09 0.172 n Error 13 53662 41279 Total 14 62302 1. Is there evidence of a positive linear relationship between price and lot size? Use alpha =.1. 2. What is the value of s_e? Interpret it within the context of the problem. 3. What is the value of SS_xx? 4. Provide a point forecast for the price of a house that has Lot Size = 8. (That is 8000 square feet)

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