Please help me answer the following question. Thank you
Question 4
X H Data Table Appraised Value Property Size Age 462.1 0.2214 41 362.4 0.2172 53 424.3 0.1635 21 546.9 0.4695 18 403.1 0.2564 45 378.6 0.2228 90 316.4 0. 1878 47 741.4 0.5029 5 213.2 0.2262 59 630.4 0.1379 15 346.5 0.1796 50 356.9 0.4287 40 359.1 0.2507 40 276.4 0.1107 13 307.7 0.1689 63 289.2 0.1721 57 392.1 0.3816 42 611.8 0.6556 42 311.3 0.1764 59 369.9 0.1465 79 Print DoneHomework: Module 12 - Multiple Regression Save Score: 0 of 1 pt 4 of 22 (17 complete) HW Score: 73.05%, 16.07 of 22 pts Instructor-created question Question Help 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. PLEASE RUN SPSS OR STATCRUNCH TO OBTAIN THE REQUIRED DATA TO ANSWER THE QUESTIONS BELOW! Be prepared to RUN SPSS OR STATCRUNCH in other questions in this module too! a. State the multiple regression equation. Let X1; represent the land area of the property in acres and let X2; age, in years. (Round to four decimal places as needed.) b. Interpret the meaning of the slopes, b, and b2, in this problem. Choose the correct answer below. A. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by 1000b, dollars. For a given land area, each increase in one year in age is estimated to result in a decrease in appraised value by 1000b2 dollars. O B. For a given age, each increase of 1 acre in land area is estimated to result in an increase in appraised value by b2 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. O C. 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 appraised value of a new house that has no land area. O B. 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. O C. 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.Homework: Module 12 - Multiple Regression Score: 0 of1 pt Instructorcreated question 4 4of22(17oomplete)v p Save HW Score: 73.05%, 16.07 of 22 pt Question Help V O 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 of the property in acres, and age, in years, for a sample of 20 singleefamily 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) a Click the icon to view the data table. PLEASE RUN SPSS OR STATCRUNCH TO OBTAIN THE REQUIRED DATA TO ANSWER THE QUESTIONS BELOW! Be prepared to RUN SPSS OR STATCRUNCH in other questions in this module too! c. Explain why the regression coefcient, be, has no practical meaning in the context of this problem G) A. The interpretation of on has no practical meaning here because it would represent the estimated appraised value of a new house that has no land area 0 E. The interpretation of on has no practical meaning here because it would represent the estimated land area of a new house With no appraised value 0 C. The interpretation of bu has no practical meaning here because it would represent the estimated age ot a house with no land area and no appraised value. 6. Predict the appraised value for a house that has a land area of 0 15 acres and is 20 years old 35 thousand (Round to two decimal places as needed.) 35 thousand Smean appraised value 5 $ (Round to one decimal place as needed ) $ thousand 5 individual appraised value S (Round to one decimal place as needed ) e. Construct a 95% condence interval estimate for the the mean appraised value for houses that have a land area 010 15 acres and is 20 years old thousand f. Construct a 95% prediction interval estimate for the the indIVIdual appraised value for houses that have a land area of [115 acres and is 20 years old, thousa nd
