The table below contains average house prices, median income, average monthly rent and percentage of flats that are vacant in a given city.
|
House price
(HP)
|
Median Income (MI)
|
Rent
(R)
|
Vacant (V)
|
|
90
|
22
|
392
|
10
|
|
101
|
23
|
402
|
9
|
|
63
|
24
|
394
|
12
|
|
89
|
19
|
345
|
15
|
|
99
|
22
|
406
|
11
|
|
112
|
25
|
455
|
8
|
|
82
|
22
|
315
|
23
|
|
78
|
18
|
330
|
20
|
|
97
|
24
|
370
|
12
|
|
86
|
18
|
368
|
16
|
|
88
|
21
|
335
|
14
|
|
100
|
20
|
412
|
8
|
|
99
|
21
|
380
|
10
|
|
134
|
25
|
442
|
6
|
|
88
|
20
|
306
|
20
|
|
77
|
17
|
322
|
23
|
|
97
|
23
|
357
|
13
|
|
97
|
22
|
366
|
10
|
|
116
|
23
|
441
|
8
|
|
107
|
20
|
422
|
7
|
|
84
|
19
|
345
|
16
|
|
77
|
18
|
339
|
15
|
|
129
|
27
|
444
|
7
|
|
76
|
18
|
305
|
18
|
|
95
|
20
|
375
|
11
|
Answer the following questions using the data in the table
a. Run a linear regression of HP on MI, R and V and obtain a regression summary output.
b. What is the equation of the regression line?
c. Interpret the constant term and the slope coefficients in the context of the model
d. Evaluate the overall fit of the model using the adjusted R2
e. Find the error for predicting house price with median income, rent and vacant of 23, 441 and 8, respectively.