can someone explain how to solve this question with all the steps please. thanks in advance.
A realty company wants to create a linear model that will estimate the selling price of homes as a function of family. There is particular concern for obtaining the most efficient estimate of the relationship between income and house price. The company has collected data on their sales experience over the past years, and the data are contained in the attached table. Complete parts a though d below. Click the icon to view the data. Click the icon to view the upper critical values of the chi-square distribution. a. Estimate the regression of house price on family income. House Price = + (Family Income) (Round to two decimal places as needed.) Based on the graph, does it appear that there is heteroscedasticity in the regression errors? A. Yes, there is evidence of heteroscedasticity in the regression errors. O B. No, there is no evidence of heteroscedasticity in the regression errors. c. Use a formal test of hypothesis to check for heteroscedasticity. Test at the 5% significance level. Determine the critical value, X1, a X1,a =(Round to three decimal places as needed.) Determine the test statistic for this test for heteroscedasticity. (Round to three decimal places as needed.) d. If you establish that there is heteroscedasticity in (b) and (c), perform another regression that corrects for heteroscedasticity. O A. yi_ yi (Round to two decimal places as needed.) O B. There is no heteroscedasticity Family Income($) House Price($) 57,419 247,580 53,300 237,08 52,276 229,42 52,958 238,699 50,796 225,782 66,773 247,446 66,722 252,700 65, 114 244,698 68,759 254,557 71,816 262,535 94,641 312,328 94,263 283,841 92,438 299,658 97,012 307,833 96,450 287,446 105,649 333,801 111,052 348,574 108,460 292 , 189 106,818 313, 19 06,678 316 , 058 136,458 327,073 137, 150 320,251 146,473 413,40 147.629 433.745 146,792 381 ,284 180,438 421,838 413,931 183,049 480, 157 164,451 368, 12 175,841 423,60