SUMMARY OUTPUT

Regression Statistics

Multiple R 0.90

R Squared 0.80

Adjusted Rsq 0.79

Standard Error 82.06

Observations 19.00

ANOVA df SS MS

Regression 1 467247.5 467247.5

Residual 17 114466.2 6733.3

Total 18 581713.7

CoefficientsSt Errort Stat

Intercept 756.26 30.41 24.87

Age -10.27 1.23 -8.33

This output was obtained from data on the age of houses (in years)and the associated amount paid in rates ($). Predict the rates paid (in dollars correct to two decimal places) for a house that is24.3 years old.