Nassau County is located approximately 25 miles east of New York City. The accompanying data include the fair market value (in thousands of dollars), land area of the property in acres, and age, in years, for a sample of 20 single-family homes located in Glen Cove, a small city in Nassau County. Develop a multiple linear regression model to predict the fair market value based on land area of the property and age, in years. Complete parts (a) through (f). E Click the icon to view the data table. a. State the multiple regression equation. Let X, represent the land area of the property in acres and let X represent age, in years. - X Data Table (Round to one decimal place as needed.) Fair Market Value Property Size 0.2192 Address Age 21 Jefferson St 38 Hitching Post Lane 79 Valentine Street 425.0 61 539.2 387.8 644.0 338.3 519.8 412.4 0.1630 0.1722 0.6545 0.1693 0.1492 0.1148 1.3100 0.3849 0.1808 0.4626 0.1714 0.1889 0.2281 0.3636 0.2549 39 62 56 13 Westland Drive 38 Jefferson Street 26 Broadfield Place 7 Valentine Street 4 Poppy Lane 29 Meadowfield Lane 23 Guilfoy Street 12 Prospect Avenue 15 Inwood Road 1 Buckeye Road 17 Duke Place 7 Woodland Road 5 Daniel Drive 14 Fox Street 4 Poppy Lane 15 Francis Terrace 36 Elm Avenue 74 44 889.0 437.4 370.3 454.4 334.3 417.3 22 62 54 58 92 62 64 50 55 56 64 28 98 564.0 541.8 490.4 389.0 628.2 487.7 388.0 0.1763 0.4608 0.2290 0.1474 51 Print Done

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Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.