Selling Price of single-family homes in Seattle are based on land values and structural improvements. You collected data on 28 recent single-family home sales in Seattle. You recorded selling price (in $000) and size (in square ft) of each home. You then completed a simple regression analysis to explain variation in selling price as a function of home size. (Attached picture)  d) Interpret the value for the estmated slope coefficient for Size in this situation or context (be specifc) e) Interpret the value for the estimated intercept coefficient in this situation. Should we give any importance to the intercept interpretation? f) State the hypotheses associted with testing the statistical significance of the relationship between Size and Selling Price. What is your decision about the null hypothesis given alpha= 0.05 (reject or fail to reject)?

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Selling Price of single-family homes in Seattle are based on land values and structural improvements. You collected data on 28 recent single-family home sales in Seattle. You recorded selling price (in $000) and size (in square ft) of each home. You then completed a simple regression analysis to explain variation in selling price as a function of home size. (Attached picture) 

d) Interpret the value for the estmated slope coefficient for Size in this situation or context (be specifc)

e) Interpret the value for the estimated intercept coefficient in this situation. Should we give any importance to the intercept interpretation?

f) State the hypotheses associted with testing the statistical significance of the relationship between Size and Selling Price. What is your decision about the null hypothesis given alpha= 0.05 (reject or fail to reject)?

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