4. A study was conducted to investigate the relationship between the size of a house (in squarefeet) and the selling price of a house (in dollars). The response variable is price in dollars, and wewant to study if the covariate of the square footage helps explain the response.A random sample of 522 houses was used, and the linear regression output from R is below.price sqft, data = house)1m (formula=Coefficients:Estimate Std. Error t value Pr(>|t|)(Intercept) -81432.946 11551.846 -7.049 5.74e-12 ***sqft158.9504.875 32.605 < 2e-16 ***Residual standard error: 79120 on 520 degrees of freedomMultiple R-squared: 0.6715, Adjusted R-squared: 0.6709 e. State the coefficient of determination value R² and interpret it in context of the study.f. What is the estimate of the correlation coefficient, R?g. What is the estimated standard deviation of the selling price given a square footage ?

From the given info, it is clear that the dependent variable is selling price of house and the…

4. A study was conducted to investigate the relationship between the size of a house (in square feet) and the selling price of a house (in dollars). The response variable is price in dollars, and we want to study if the covariate of the square footage helps explain the response. A random sample of 522 houses was used, and the linear regression output from R is below.