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Please help me with thisquestionwith detailed explanation ASAP. Numerical answers should either be exact or given up to 4 decimal places. Thanks. 6. (20 Marks)

Please help me with thisquestionwith detailed explanation ASAP. Numerical answers should either be exact or given up to 4 decimal places. Thanks.

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6. (20 Marks) In a back office of a real estate agent company, an analyst seeks to develop a model to predict the assessed value (in thousands of dollars) by using the size of the houses (in thousands of square feet) and the age of the houses (in years). To do this, she took a random sample of 15 houses to perform a regression analysis as follows: SUMMARY OUTPUT Regression Statistics Multiple R 0.909120107 R Square 0.826499369 Adjusted R Square 0.797582598 Standard Error 2.168165527 Observations 15 ANOVA df SS MS F Significance F Regression a 268.724699 C d 2.72776E-05 Residual b 56.41130101 4.700942 Total 14 325.136 Coefficients Standard Error t Stat P-value Intercept 163.7751236 5.407173152 30.28849 1.05E-12 Size 10.72518298 3.014327189 e f Age -0.28425435 0.083598359 -3.40024 g (a) State the multiple regression equation. Interpret the meanings of the coefficients for size and age. (b) Test the validity of this multiple regression equation at the significance level of 1%. Show your reasoning. (c) Is there a linear relationship between the assessed value of the house and its size? Test this claim at the significance level of 1%. (d) The analyst claims that there is a negative relationship between the assessed value of the house and its age. Test her claim at the significance level of 1%

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