Question: SOLVE USING EXCEL SHOW STEP BY STEP Problem 4. Data in this template include the appraised value in $1000s), land area of the property (in
SOLVE USING EXCEL SHOW STEP BY STEP


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 b, 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? Land (acres) Age (years) 51 Appraised Value ($1000s) 477.0 375.0 440.0 559.4 416.9 385.1 326.0 760.7 228.7 646.7 361.7 466.0 367.2 282.7 315.3 299.4 407.7 624.5 325.1 374.5 375.3 316.1 0.3407 0.3302 0.2740 0.5718 0.3659 0.3400 0.2918 0.6125 0.3339 0.2410 0.2873 0.5310 0.3630 0.2258 0.2803 0.2824 0.4959 0.7655 0.2832 0.2545 0.3865 0.2258 56 34 23 51 93 53 12 57 20 59 53 51 17 69 57 49 51 57 83 76 102 50 46 452.7 364.1 474.3 331.0 45 87 343.8 59 287.6 49 0.4746 0.2584 0.3391 0.5736 0.2999 0.2338 0.2602 0.1962 0.1714 0.3849 0.6545 0.1722 0.1435 39 408.0 232.9 288.4 396.7 613.5 314.1 363.5 99 52 44 46 52 78 364.3 0.2755 71
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