Suppose that you are commissioned to develop a forecasting model for residential property selling price in an Adelaide suburb. The sample information available to you is collected from a credible source on $184$ houses recently sold in the suburb. The data are available as the $$Final exam data $2023$ SP $5$ file on the course Learnonline site under the $$Assignment$$ tab and contains information on:

SalePrice $($Y$)$: The transaction price in thousands of dollars, as recorded on the contract of sale.

LandArea $(1$

$)$: The size of the land area in square metres.

Rooms $(2$

$)$: The number of main rooms in a dwelling. Main rooms include bedrooms, living areas, and kitchens, but exclude bathrooms, laundries, and water closets. Groups of small rooms that are not fully enclosed may be counted as one room $($e$.$g$.$ kitchen$-$dinettes$).$

EQM $(3$

$)$: Recorded in square metres. This is a weighted average of all buildings on the property $($Equivalent Main Area$).$ The main dwelling will have a weighting of $1,$ lesser structures such as carports will have a lower weighting. These weightings are not fixed and depend upon the discretion of the assessor. The overall value is a reasonable proxy for the building area.

Condition $($D$)$: A dummy variable with the value $1$ indicating the property is in very good condition and the value $0$ otherwise.

YearsBuilt $(4$

$)$: The number of years since the house was built.

Answer the following questions based on the above information: