The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database: - Floorarea: square feet of floor space - Offices: number of offices in the building - Entrances: number of customer entrances - Age: age of the building (years) - AssessedValue: tax assessment value (thousands of dollars) Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics. - Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r2 in your graph. Do you observe a linear relationship between the 2 variables? - Use Excel's Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue? - Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r2 in your graph. Do you observe a linear relationship between the 2 variables? - Use Excel's Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue? Construct a multiple regression model. - Use Excel's Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea, Offices, Entrances, and Age as independent variables. What is the overall fit r2 ? What is the adjusted r2 ? - Which predictors are considered significant if we work with a=0.05 ? Which predictors can be eliminated? - What is the final model if we only use FloorArea and Offices as predictors? - Suppose our final model is: - AssessedValue =115.9+0.26 FloorArea +78.34 Offices - What wouldbe the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago? Is this assessed value consistent with what appears in the database