a study housing demand, county assessor interested developing a regression model estimate market (i.e., selling price) residential property this jurisdiction. The assessor feels important variable affecting selling price (measured thousands dollars) size house (measured hundreds square feet). Her randomly selected 15 houses measures selling price size. obsevation (i) selling price (x $1000) y size (x 100 ft square root of 2)
a. plot the data
b. determine the estimated regression line. give an economic intrepretation of the est. slope (b) coefficient c determine iif size is a statistically significant variable in estimating selling price d calculating the coefficiently of determination e perform an f-test of the overall signifcance of the results f constructing an appro. 95 % prediction interval for the selling price of a house having an area (size) of 15 (hundred) square ft