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Use the text book to help solve Questions 1 to 10. Document 1: https://drive.google.com/file/d/1t91GxST8pT3tVtacWi2yzUfxjZoeTVxU/view?usp=sharing QUESTION 5 A developer who specializes in summer cottage properties is
Use the text book to help solve Questions 1 to 10.
Document 1: https://drive.google.com/file/d/1t91GxST8pT3tVtacWi2yzUfxjZoeTVxU/view?usp=sharing
QUESTION 5 A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience, the developer knows that the most important factors affecting the price (in $10005) of the lot are size (in thousands sq .ft.), number of mature trees, and distance (in feet) to the lake. From a nearby area, the developer gathers the relevant data for 60 recently sold lots. A multiple linear regression was performed using Excel. Based on the EXCEL printout, is the variable lot size significantly related to sale price at 5% level of significance? SUMMARY Regression Statistics Multiple R 0.4924 R Square 0.2425 Adjusted R Square 0.2019 Standard Error 40.2435 Observations 60 ANOVA df Regression 3 Residual 56 Total 59 Coefficients Intercept 51 .3912 Lot size 0.6999 Trees 0.6788 Distance -0.3784 0 Yes, because the p-value > 5% O No, because the p-value > 5% O No, because the p-value 5% O No. because the p-value > 5% 0 Yes, because the p-valueStep by Step Solution
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