We develop a regression model to predict the assessed value…
We develop a regression model to predict the assessed value of houses, using the size of the houses (in square feet) and the age of the houses (in years). Below, we observe partial results of running a multiple regression: Multiple R 0.909120107 R Square 0.826499369 Adjusted R Square 0.797582598 Standard Error 2168.165527 Observations 15 ANOVA df SS MS F Regression 2 268724699 134362349.5 28.58200688 Residual 12 56411301.01 4700941.751 Total 14 325136000 Coefficients Standard Error t Stat P-value Upper 95% Lower 95.0% Intercept 163775.1236 5407.173152 30.28849253 1.05104E-12 175556.3418 151993.9054 Size 10.72518298 3.014327189 3.558068619 0.003937797 17.29283773 4.157528235 Age -284.254348 83.59835914 -3.400238365 0.005267391 -102.1091708 -466.3995252 Provide the proper interpretation for the slope of the size of houses (m1{“version”:”1.1″,”math”:”m1″}).