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The table below contains average house prices, median income, average monthly rent and percentage of flats that are vacant in a given city.
House price
(HP)
Median Income (MI)
Rent
(R)
Vacant (V)
90
22
392
10
101
23
402
9
63
24
394
12
89
19
345
15
99
406
11
112
25
455
8
82
315
78
18
330
20
97
370
86
368
16
88
21
335
14
100
412
380
134
442
6
306
77
17
322
357
13
366
116
441
107
422
7
84
339
129
27
444
76
305
95
375
Answer the following questions using the data in the table
a. Run a linear regression of HP on MI, R and V and obtain a regression summary output.
b. What is the equation of the regression line?
c. Interpret the constant term and the slope coefficients in the context of the model
d. Evaluate the overall fit of the model using the adjusted R2
e. Find the error for predicting house price with median income, rent and vacant of 23, 441 and 8, respectively.
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