16.12 - A real estate agent specializing in commercial real estate wanted a more precise method of judging the likely Refer to Exercise 16.12. a. Determine the standard error of estimate, and describe what this selling price (in $1,000s) of apartment buildings. As a first effort, she recorded the price of a number of apartment statistic tells you about the regression line. b. Can we conclude that the size and price of the buildings sold recently and the number of square feet (in 1,000s) in the building. a. Calculate the regression line. b. apartment building are linearly related? c. Determine the coefficient of determination and What do the coefficients tell you about the relationship between price and square footage? discuss what its value tells you about the two variables. Size: x bar 53.93 S(x) 2 688.18 Price: y bar 6465 s(y) 2 11918489 n 40 s(xy) 30945 b(1) = slope 44.9664332 -B16/B11 y - Intercept = y_bar - b(1)*x_bar 4039.96026 -B13-B17*B10 Regression line = y -4039.96+44.966x Answer A: SSE - 410553106 (B15-1)(B14-(B16 2/B11)) S(E) - 3286.9483 -SQRT((B22)(B15-1-1)) R^2 0.11675023