(i) The sale of houses in an area (S) depends on the level of per capita income of people in that area (1). the population of the arca in *000s (po). property tax (tx) in % and an index value of property price in that area (P). The relationship of dependant and independent variables (DV & IV) is given by the following function (derived by running multiple repression on last 2 years data): S = 2100 + 0.20 1 + 8 po - 23 tx - 2.75 P a) If the current level of IVs is given by: I = 33,000; po = 48,000; tx = 12% and P - 32, then what is the sale quantity that can be expected? b) If all IVs remain at same level, while only P changes to 28, what will be new quantity of houses sold? (ii) You are surveying a sample of college students for understanding their food habits. What care will you take while asking questions? Identify one such consideration. (iii) For a given multiple regression exercise, in which manager wanted to find the relationship of firm's sales of a zone (dependent variable) with another influencing variable, namely, average income in the zone, he gets R value = 0.95. Questions: (a) What does the R value signify to the manager? (b) What is the direction of the relationship between the dependent and independent variables