The government plans to build a new subway and rail terminal, and is offering compensation to the land property owner where the terminal is to be developed.

Regression 1 has the current market value of properties (variable name Value, in hundreds of thousands of dollars, i.e., measured in units of $100,000) as the dependent variable, and the size of the property (variable name Size, measured in acres; 1 acre ? 4,047 square meters) as the independent variable. Regression 2 uses the same independent variable Size, but it uses percentage increase in the property value based on the size of the property after similar government developments occurred (variable name IncrValue, in percentage points, i.e., a decrease in value of 12% would correspond to IncrValue = -12).

a. using regression 2, what is the 99.7% confidence intervalue for the change IncrValue when Size increases by 3 acres? 

b. If the government decides not to develop the terminal in the area, what is the probability that the value of a 3 acre property value will exceed one million dollars? 

Dependent Variable Value Independent Variabl Size Regression Statistics R Square REGRESSION 1 Adj.RS 4.Err.Reg. 0.175 0.149 0.695 $ Carer 287 Summary Table Tariable Coeff Std.Err. t-Stat. P-value Intercept 1.784 0.382 4.670 0.000 Size 2.103 0.112 18.777 0.000 Forecasted: Value Size Farecart StErrFst Fost#1 1 3.887 1.033 Fost#2 2 5.990 1.000 Fost#3 3 8.093 0.953 Dependent Variable IncrValue Independent Variabl Size Regression Statistics R Square Summary Table REGRESSION 2 * Hirring (2.5x,2*5) 0 1.968 Adj.RSgr d.Err.Rag. $ Carer * Hirring (2.5x,490) 0.273 0.252 2.210 492 0 1.965 Tariable Coeff Std.Err. t-Stat. P-value Intercept 14.601 0.412 35.439 0.000 Size -2.101 0.301 -6.980 0.000 Forecasted: IncrValue Six+ Farecart StErrFet Fost#1 3 8.298 3.022 Fost#2 2 10.399 2.873 Fost#3 1 12.500 2.788