Please show workings to obtain answer. 29. [Simple Regression on House Price] Consider the following model you wish to estimate by usingthe OLS,Price = a + B sqrft + ɛ,where price is the house price in thousands of dollars and sqrft is size of house in squarefeet. The OLS result from Excel is as follows (see below). 30. (continuing to use the information from question 29). What is the coefficient of determination R??[Hint you can compute R2 by using the formula, R?-RSS/TSS which the Excel regression outputreports.](a) 0.6207967 (b) 0.6163873 (c) 0.6222574(d) 0.7821051SUMMARY OUTPUTRegression StatisticsMultiple RR SquareAdjusted R Square0.7879065480.616387387Standard Error63.61708058Observations88ANOVAdfMSSignificance FRegression1569801.0753569801.0753140.79129198.42341E-20Residual86348053.4334047.132941Total87917854.5083CoefficientsStandard Errort StatP-valueLower 95%Upper 95%InterceptX Variable 1 (sqrft)11.2041448224.74260761 0.4528279720.651812965-37.9825302260.390819860.1402109770.01181664311.865550648.42341E-200.1167202690.163701686

Name: Please show workings to obtain answer. 29. [Simple Regression on House
Uploaded: 2024-03-20T07:07:37.000Z
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Description: Please show workings to obtain answer. 29. [Simple Regression on House Price] Consider the following model you wish to estimate by usingthe OLS,Price = a + B sqrft + ɛ,where price is the house price in thousands of dollars and sqrft is size of house