Write the regression equation

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Reference no: EM132839850

A real estate data analysis organisation has researched the relationship between the sale price (Price ~ $000) of houses in a regional Victorian township, the size of the land on which the house is located (Size ~ square metres) and the distance that the property is from the centre of the township (Distance ~ kilometres). The following Excel output provides a summary of their investigation.

A) Write the regression equation, using the names of the variables.

B) Is the sign of the coefficient of the Distance variable as you would have expected? Briefly explain the reasoning behind your answer.

C) Do hypothesis test to determine whether there is a significant, positive, linear relationship between Price and Size, at a 5% level of significance. Provide brief workings to justify your answer, including hypotheses.

D) Would you have any reservations about using the results of this research in predicting the sale price of a house in this township given the size of the land and the distance from the centre of the township? Briefly explain the reasoning behind your answer.

Reference no: EM132839850

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