Question: The data (next sheet) was collected for 80 randomly selected houses sold recently in the Cobb County area in an attempt to determine the major

The data (next sheet) was collected for 80 randomly selected houses sold recently in the Cobb County area in an attempt to determine the major determinants of sales price. The group collecting the data believe that sales price is determined by house size in square feet, the number of bedrooms and house type (which they classified in one of three categories: 1-story, 2-story and split-level). Complete the following steps:

using excel Run the regression (using split-level as the reference category for house type) and put the regression output in the designated area of the worksheet "Regression Data Q2". Use the regression output to answer questions a-h below

House Sales Price House Type Square Feet # Bdrms
1 432124 Split-level 1930 3
2 491115 2-Story 2930 4
3 496463 2-Story 2530 4
4 421640 Split-level 2540 3
5 549663 2-Story 2830 5
6 486097 2-Story 3150 4
7 402249 Split-level 2670 3
8 372088 1-Story 1950 2
9 422116 1-Story 2140 2
10 423492 1-Story 2300 4
11 461498 Split-level 2300 2
12 473500 2-Story 2370 4
13 449138 2-Story 2290 4
14 377583 1-Story 2040 2
15 506198 2-Story 2520 4
16 434662 1-Story 2790 3
17 518634 2-Story 2410 4
18 529140 2-Story 2770 5
19 456405 2-Story 2560 4
20 439990 2-Story 2810 4
21 515085 Split-level 3280 5
22 423562 1-Story 2070 3
23 524575 2-Story 2550 5
24 472971 2-Story 2800 4
25 501478 2-Story 2460 4
26 438572 1-Story 2580 4
27 465687 2-Story 2830 4
28 388104 1-Story 1990 2
29 484884 2-Story 2800 4
30 411115 1-Story 2620 4
31 453243 2-Story 2350 4
32 482107 2-Story 2750 4
33 517749 2-Story 2800 4
34 474325 2-Story 2590 4
35 455945 1-Story 2790 4
36 379464 1-Story 2070 2
37 515573 2-Story 3240 5
38 423601 Split-level 2240 3
39 434749 Split-level 2270 3
40 438799 2-Story 2820 4
41 454511 Split-level 1990 4
42 508378 2-Story 2770 5
43 404090 1-Story 2460 3
44 434051 Split-level 2080 3
45 452922 2-Story 2380 4
46 433072 2-Story 2360 3
47 497421 2-Story 2410 4
48 413732 1-Story 1890 2
49 432031 1-Story 2750 4
50 443685 Split-level 2630 4
51 389747 1-Story 2120 2
52 534926 2-Story 3040 5
53 449536 2-Story 2240 4
54 451970 2-Story 2120 4
55 443677 2-Story 2810 4
56 420441 Split-level 2240 3
57 502322 2-Story 2640 4
58 446832 Split-level 2210 4
59 406798 1-Story 2210 2
60 443173 Split-level 1960 4
61 513311 2-Story 2520 4
62 537518 2-Story 2660 5
63 480122 1-Story 3030 4
64 412083 1-Story 2010 3
65 435259 1-Story 2300 3
66 421367 Split-level 2210 3
67 474790 2-Story 2930 3
68 374831 1-Story 1970 2
69 419407 1-Story 2840 3
70 433162 Split-level 2030 4
71 570471 2-Story 3230 5
72 434781 Split-level 2100 4
73 519643 2-Story 2110 4
74 471877 2-Story 2780 4
75 404135 1-Story 2420 3
76 501838 2-Story 2270 4
77 359799 1-Story 1880 2
78 455758 2-Story 2510 4
79 422279 Split-level 2180 3
80 493792 2-Story 1980 2

1. What is the estimated sales price for a 1-Story, 2,200 square feet house with 3 bedrooms? (show equation and calues used in equation)

2. For the given sample of houses, what is the average marignal value of one square foot of house size?

3. Are the independent variables all statisically significant at the 0.05 level? List any variable(s) that do not meet this criteria.

4. What is the 99% confidence interval for the coefficient of square feet?

5. From your regression output, state and interpret the value of the regression coefficient for "1-story DV"

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