For the Real Estate Sales Price Case (or data set RealEst2), answer the following questions data set in this book Essentials of the Business Statistics
4th Edition by Bowerman, O'Connell, and Orris © 2011 McGraw-Hill Irwin
a. Description/Point Estimates: Central Tendency: write out the multiple regression equation; specify and interpret each of the regression coefficients, using the units of the variables.
b. Description/Point Estimates: Dispersion: identify and interpret the standard error s, using the units of the variables.
c. Description/Point Estimates: Adjusted R squared: identify and interpret the Adjusted R squared, using the units of the variables.
d. Inferences about the population regression coefficients: hypothesis tests: for each of the independent variables, specify the null and alternative hypotheses about the population regression coefficient; identify the p-value for the population regression coefficient, and use it to evaluate the Ho and Ha, include your interpretation, using the variables of the case.
e. Inferences about the population regression coefficient: confidence interval: for each of the independent variables, specify and interpret the 95% confidence interval for the population regression coefficient, using the units of the variables.
f. Inferences about the predicted value of the dependent variable, using given values of the independent variables: take as your given x values the means of each of the independent variables: specify and interpret the 95% confidence interval and the 95% prediction interval, using the units of the variables. Be sure to clearly distinguish in your interpretation the difference between the 95% confidence interval and the 95% prediction interval, for the given values of x.