d. Predict the appraised value for a house that has a land area of [1.15 acres and is 25 years old. 55D thousand (Round to two decimal places as needed.) e. Construct a 95% condence interval estimate for the the mean appraised value for houses that have a land area of 0.15 acres and is 25 years old. $D thousand S mean appraised value 3 SEE thousand (Round to one decimal place as needed.) f. Construct a 95% prediction interval estimate for the the individual appraised value for houses that have a land area of [1.15 acres and is 25 years old. 55D thousand 5 individual appraised value 5 5'1 thousand (Round to one decimal place as needed.) Acertain town is located approximately 25 miles east of a large city. The data organized below include the appraised value (in thousands of dollars), land area ofthe property in acres, and age, in years, fora sample of 20 singlefamily homes located in the town. Develop a multiple linear regression model to predict appraised value based on land area of the property and age, in years. Complete parts {a} through {f}. E Click the icon to view the data table. PLEASE RUN SPSS 0R STATCRUNCH TO OBTAIN THE REQUIRED DAT}! TO ANSWER THE QUESTIONS BELOW! Be prepared to RUN SPSS 0R STATCRIJHCH in other questions in this module too! a. State the multiple regression equation. Let Ti=l:l* ll:llx1i+ [Eli's (Round to four decimal places as needed} b. Interpret the meaning of the slopes, b, a O A. Fora given age, each increase of1 area, each increase in one year in a O B. Fora given age, each increase of1 each increase in one year in age is O C. Fora given age, each increase of1 each increase in one year in age is 0. Explain why the regression coeicient, bu, O A. The interpretation of bu has no practi O B. The interpretation of bu has no practi value. 0 C. The interpretation of be has no practi area. d. Predict the appraised value for a house th $|:| thousand (Round to two decimal places as needed.) tX2i age, in years. 0 Data Table Appraised . Value Property SIP-e Age aised value by 1000b1 dollars. For a given land 465.1 0.2285 46 1000b2 dollars. 365.4 0.2147 60 4283. [11513 23. aised value by b2 dollars. For a given land area, 540.1 0.46?4 15 ollars. 401 .8 0.2547 4? 370.5 0.2207 81 aised value by b1 dollars. For a given land area, 315.2 0.1848 4? 0| lars. 745 .6 0. 5097 6 21 6.3 0.2277 60 63? . 9 0.1 395 1 T 346.3 0.1 T95 53 3:53 325113 :3 land area of a new house with no appraised value. 2?6.9 0.1 1 48 1 3 308.3 0.1 648 60 284 . 6 0.1 ?59 56 391 .6 0.3825 41 61 4 . 7' 0.6505 41 31 4.3 0.1 ?54 50 365 .4 0.1 4?1 71 age of a house with no land area and no appraised appraised value of a new house that has no land
