49 using the data below answer the following questions 1 Wri

(49) using the data below answer the following questions 1. Write the regression equation. 2. Interpret the regression constant and regression coefficient, 3. Forecast a value for the dependent variable,4 Test the significance of the regression coefficient at an alpha level of .05, 5.Test the overall significance of the regression model,6. Interpret the coefficient of determination 7.Are there any indications of violations of the general linear model? You must address each assumption separately and explain. Yes and no answers are unacceptable.(must use excel or minitab)

recent family home sales in San Antonio provided the following data

Square footage                price$

1580                                  142500

1572                                  145000

1352                                  115000

2224                                  155900

1556                                    95000

1435                                   128000

1438                                   100000

1089                                    55000

1941                                   142000

1698                                   115000

1539                                   115000

1364                                   105000

1979                                    155000

2183                                   132000

2096                                    140000

1400                                   85000

2372                                   145000

1752                                   155000

1386                                    80000

1163                                  100000

Solution

1. Write the regression equation.

price$ =22,635.9491 +58.9595*Square footage

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2. Interpret the regression constant and regression coefficient,

There is no meaningful for the regression constant.

When the regression coefficient increases, the regression line increases.

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3. Forecast a value for the dependent variable,

22,635.9491 +58.9595*1400=105179.2

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4 Test the significance of the regression coefficient at an alpha level of .05,

Since the p-value of Square footage variable is less than 0.05, we can conclude that the regression coefficient is significant.

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5.Test the overall significance of the regression model,

Since the p-value of F test is less than 0.05, we can conclude that the regression model is significant.

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6. Interpret the coefficient of determination

R^2=0.5695

56.95% of variance can be explained by the regression line.

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7.Are there any indications of violations of the general linear model? You must address each assumption separately and explain.

Assume: