Data file XR16056 lists the following information for a sample of local homes sold recently: selling price (dol- lars), lot size (acres), living area (square feet), and whether the home is air conditioned (1 5 AyC, 0 5 no AyC).
a. Determine the multiple regression equation and inter- pret the partial regression coefficients.
b. What is the estimated selling price for a house sitting on a 0.9-acre lot, with 1800 square feet of living area and central air conditioning?
c. Determine the 95% prediction interval for the selling price of the house described in part (b).
d. Determine the 95% confidence interval for the mean selling price of all houses like the one described in part (b).
e. Determine the 95% confidence interval for the popu- lation partial regression coefficients, /31, /32, and /33.
f. Interpret the significance tests in the computer printout.
g. Analyze the residuals. Does the analysis support the applicability of the multiple regression model to these data?