1 help Please use the accompanying Excel data set or accompanying Text file data set when completing the following exercise.An article in Technometrics by S. C. Narula and J. F. Wellington ("Prediction, Linear Regression, and a Minimum Sum of Relative Errors,"Vol. 19, 1977) presents data on the selling price (y) and annual taxes (x) for 24 houses. The taxes include local, school and county taxes.The data are shown in the following table.iSale Price/1000 Taxes/1000y - y =25.929.5i27.925.929.929.930.928.935.931.531.030.930.036.941.940.543.937.537.944.537.938.9(a) Calculate the least squares estimates of the slope and intercept.B₁36.945.8Bo= i(b) Find the mean selling price given that the taxes paid are x = 5.3.(Round your answer to 2 decimal places.)4.91765.02084.54294.55735.05973.89105.89805.60395.82825.30036.27125.95925.05008.24646.69697.78419.03845.98947.54228.79516.08318.36078.14009.1416(Round your answer to 3 decimal places.)(c) Calculate the fitted value of y corresponding to x = 5.0597 (observation # 5). Find the corresponding residual.(Round your answer to 2 decimal places.)(Round your answer to 2 decimal places.)(Round your answer to 2 decimal places.)Statistical Tables and Charts

The data shows the selling price (y) and annual taxes (x) for 24 houses.(a) The slope and intercept are obtained by using the EXCEL as follows: Enter the data > Data > Data Analysis > Regression > Enter y range as A1:A25, x range as B1:B25 > Mark Labels > Ok. The output is, From the output the slope is 3.324 and intercept is 13.32. That is, β^1=3.324β^0=13.32.(b) The mean selling price given that the taxes paid are x=5.3 is, y^=13.32+3.324x=13.32+3.3245.3=30.94 Thus, the mean selling price given that the taxes paid are x=5.3 is 30.94.(c) The mean selling price given that the taxes paid are x=5.0597 is, y^=13.32+3.324x=13.32+3.3245.0597=30.14 Thus, the fitted value of y corresponding to x=5.0597 is 30.14. The residual is, y-y^=29.9-30.14=-0.24 Thus, the residual is -0.24.