A statistical program is recommended. Is the number of square feet of living space a good predictor of a house's selling price? The following data show the square footage and selling price for fifteen houses in Winston-Salem, North Carolina. + Size Selling Price (1,000s sq. ft) ($1,000s) 1.26 117.5 3.02 299.9 1.99 139.0 0.91 45.6 1.87 129.9 2.63 274.9 2.60 259.9 2.27 177.0 2.30 175.0 2.08 189.9 1.12 95.0 1.38 82.1 1.80 169.0 1.57 96.5 1.45 114.9 (a) Develop a scatter diagram with square feet of living space (in 1,000s) as the independent variable and selling price (in $1,000s) as the dependent variable. 350 350 300 OOOs 300- 250 200 Selling Price ($1,000s) 150 E 1 100 20 1 . ..". . 50 50 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 O Size (1,000s sq. ft) Size (1,000s sq. ft) 350 350 300 g 300 8 2 250 200 - 200- Selling Price ($1,000s) g 150 .. . ... . 150 100 20 1 50 50 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 O Size (1,000s sq. ft) Size (1,000s sq. ft) What does the scatter diagram indicate about the relationship between the size of a house (in 1,000s sq. ft) and the selling price (in $1,000s)? There appears to be a positive linear relationship between size (1,000s sq. ft) and selling price ($1,000s). There appears to be a negative linear relationship between size (1,000s sq. ft) and selling price ($1,000s). There appears to be no noticeable relationship between size (1,000s sq. ft) and selling price ($1,000s). (b) Develop the estimated regression equation that could be used to predict the selling price (in $1,000s) given the number of square feet of living space (in 1,000s). (Round your numerical values to one decimal place.) P = (c) At the 0.05 level, is there a significant relationship between the two variables? (Use the F test.) State the null and alternative hypotheses. OH: $1 20 Ha : P1