Q1) A real estate consultant is considering developing a series of price models forresidential houses in different areas of the province of Ontario, in Canada. Thedataset, provided by the Windsor and Essex County Board, covers residential homesales in Windsor. To develop the model, the consultant performs a linear regression toestimate the price (in Canadian dollars) as a linear function of the size of theapartment (in square feet) and obtains the following Excel result.SUMMARY OUTPUTRegression StatisticsMultiple RR SquareAdjusted R SquareStandard ErrorObservations0.535804130.287086070.2857755641101.9362546ANOVAdfMSSignificance F1 3.70082E+11 3.7008E+11 219.065461 6.74643E-42RegressionResidualTotal544 9.19017E+11 16893691585451.2891E+12Coefficients Standard Error62171.5874 4537.036582 13.7031268 6.2969E-37 53259.33066 71083.8441t StatP-valueLower 95%Upper 95%InterceptLOTSIZE12.01876690.81203165 14.8008601 6.7464E-42 10.42366523 13.6138685a) Write the regression equation.b) Predict the price for LOTSIZE = 4000. Round your answer to two decimal places.c) Interpret the coefficient for the size of the apartment.d) Find the correlation coefficient between Price and Lot Size. Round your answer tothreedecimals.

Note : According to our guidelines we are solving only first three sub-parts of a question. Given…

Answered: ) Write the regression equation. )…

) Write the regression equation. ) Predict the price for LOTSIZE = 4000. Round your an ) Interpret the coefficient for the size of the apartment.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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