Using the data in the Excel file Home market value develop a multiple linear regression model for estimating the market value as a function of both the age and size of the house. State the model and explain R2, Significance F, and p-value

Please answer the question on the excel 1-8

*Please show what is clicked and how its calculated on Excel.

* change the numeric format to Significance F and p-value of the square root variable to "numbers" with 8 decimal places. This will allow you to read the p-value with decimal places.

A B C D J L M N O o Q R E G H. LOCATE REGRESSION OUTPUT IN BLUE SHADED AREA BELOW 5 Market Value 6 7 7 8 9 9 10 IU 11 II 4 12 12 4 13 44 14 16 15 40 16 17 17 40 18 40 19 20 20 24 21 22 23 20 24 25 26 27 $90,000 $104,400 $93,300 $91,000 $101,900 $108,500 $87,600 $96,000 $89,200 $88,400 $100,800 $96,700 $87,500 $114,000 $113,200 $87,500 $87.500 $116,100 $94,700 $86,400 $87,100 $83,400 $79,800 $81,500 $87,100 House Age Square Feet 33 1,812 32 1,914 32 32 1,842 33 1,812 22 32 32 1,836 33 2,028 32 1,732 33 1,850 32 1,791 22 33 1,666 32 1,852 22 32 1,620 32 1,692 32 2,372 32 2,372 33 33 1,666 32 2,123 32 1,620 32 1,731 32 1,666 28 1,520 27 1,484 28 1,588 28 1,598 ANSWER THE FOLLOWING QUESTIONS: 28 29 ANSWERS 30 $82,600 28 1,484 1) What is the value of R-square and what does this tell you? 31 $78,800 28 1,484 2) What is the F-value and what does it tell you? ? 32 $87,600 28 1,520 33 $94,200 27 1,701 3) What is the multiple regression equation? 4) Calculate the predicted (estimated) value of a house that is 28 years old and 1,484 square feet using the model 5) Calculate the predicted (estimated) value of a house that is 28 years old and 1,600 square feet using the model 6) Which explanatory variable is significant at the a=.05? 7) Interpret the House Age coefficient. 8) Intepret the Ssquare feet coefficient 28 28 28 27 27 22 27 34 35 36 37 38 20 39 20 40 A 41 42 43 44 45 46 47 48 49 $82,000 $88,100 $88,100 $88,600 $76,600 COM 200 $84,400 000 $90,900 $81,000 $91,300 $81,300 $100,700 $87,200 $96,700 28 27 1,484 1,468 1,520 1,520 1,484 1,520 BRO 1,668 1500 1,588 4704 1,784 1181 1,484 1,520 1,520 1,684 1,581 28 28 27 27 27 27 28 27 27 $120,700 A B C D J L M N O o Q R E G H. LOCATE REGRESSION OUTPUT IN BLUE SHADED AREA BELOW 5 Market Value 6 7 7 8 9 9 10 IU 11 II 4 12 12 4 13 44 14 16 15 40 16 17 17 40 18 40 19 20 20 24 21 22 23 20 24 25 26 27 $90,000 $104,400 $93,300 $91,000 $101,900 $108,500 $87,600 $96,000 $89,200 $88,400 $100,800 $96,700 $87,500 $114,000 $113,200 $87,500 $87.500 $116,100 $94,700 $86,400 $87,100 $83,400 $79,800 $81,500 $87,100 House Age Square Feet 33 1,812 32 1,914 32 32 1,842 33 1,812 22 32 32 1,836 33 2,028 32 1,732 33 1,850 32 1,791 22 33 1,666 32 1,852 22 32 1,620 32 1,692 32 2,372 32 2,372 33 33 1,666 32 2,123 32 1,620 32 1,731 32 1,666 28 1,520 27 1,484 28 1,588 28 1,598 ANSWER THE FOLLOWING QUESTIONS: 28 29 ANSWERS 30 $82,600 28 1,484 1) What is the value of R-square and what does this tell you? 31 $78,800 28 1,484 2) What is the F-value and what does it tell you? ? 32 $87,600 28 1,520 33 $94,200 27 1,701 3) What is the multiple regression equation? 4) Calculate the predicted (estimated) value of a house that is 28 years old and 1,484 square feet using the model 5) Calculate the predicted (estimated) value of a house that is 28 years old and 1,600 square feet using the model 6) Which explanatory variable is significant at the a=.05? 7) Interpret the House Age coefficient. 8) Intepret the Ssquare feet coefficient 28 28 28 27 27 22 27 34 35 36 37 38 20 39 20 40 A 41 42 43 44 45 46 47 48 49 $82,000 $88,100 $88,100 $88,600 $76,600 COM 200 $84,400 000 $90,900 $81,000 $91,300 $81,300 $100,700 $87,200 $96,700 28 27 1,484 1,468 1,520 1,520 1,484 1,520 BRO 1,668 1500 1,588 4704 1,784 1181 1,484 1,520 1,520 1,684 1,581 28 28 27 27 27 27 28 27 27 $120,700