I have already calculated question a, Y=406.3816+460.1572X1i-2.7864X2i. I am now a bit confused about questions b and c, so it would be better if you could detail explain the problem-solving process. Thanks.

2. A certain 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 of the property in acres, and age, in years, for a sample of 20 single-family 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). Click the icon to view the data table. a. State the multiple regression equation. Let X1represent the land area of the property in acres and let Xzage, in years. Y = Dx+ X2 (Round to four decimal places as needed.) b. Interpret the meaning of the slopes, b, and by, in this problem. Choose the correct answer below. O A. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by 1000b4 dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by 1000b, dollars. OB. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by by dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b, dollars. OC. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b2 dollars. C. Explain why the regression coefficient, bo, has no practical meaning in the context of this problem. O A. The interpretation of bo has no practical meaning here because it would represent the estimated land area of a new house with no appraised value. OB. The interpretation of be has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. OC. The interpretation of bo has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value. 2. A certain 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 of the property in acres, and age, in years, for a sample of 20 single-family 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). Click the icon to view the data table. a. State the multiple regression equation. Let X1represent the land area of the property in acres and let Xzage, in years. Y = Dx+ X2 (Round to four decimal places as needed.) b. Interpret the meaning of the slopes, b, and by, in this problem. Choose the correct answer below. O A. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by 1000b4 dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by 1000b, dollars. OB. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by by dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b, dollars. OC. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by b2 dollars. C. Explain why the regression coefficient, bo, has no practical meaning in the context of this problem. O A. The interpretation of bo has no practical meaning here because it would represent the estimated land area of a new house with no appraised value. OB. The interpretation of be has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area. OC. The interpretation of bo has no practical meaning here because it would represent the estimated age of a house with no land area and no appraised value