The dataset  Roslyn in the accompanying workbookgives appraised values (In $1000’s) and size (in squarefeet)  for thirty houses in the Roslyn neighborhood.

a)     UseExcel’s Data Analysis ToolPak to produce output for the simplelinear regression, with Valueas the response (y)variable and Size as the predictor (x)variable.

b)     Writeout the equation of the regression of Value (y) on Size(x)

c)      State the numerical value ofthe slope of the regression line. What does it tell you in thiscontext?

d)     Statethe numerical value of the standard error of the estimate? Whatdoes it tell you in this context?

e)     Statethe numerical value of the coefficient of determination? What doesit tell you in this context?

f)      Give the 95% confidenceinterval for the intercept of the regressionequation.   




Are there any negative numbers in thisinterval?   What practicalconclusion canyou draw from your answer?

g)     Hereis a muddled, inaccurate “explanation” of what it means to be “95%confident” in the interval for the slope.   “For 95%of samples the population slope, b,will be in the interval [0.1399,0.2336]”
Give an accurateexplanation of “95% confidence” in thiscontext.

h)     Whatpractical information does the regression equation give a realtorabout a 3000 square foot house ?

i)       What practicalinformation does the regression equation give a realtor about a30000 square foot house ?

j)       Conduct an appropriatestatistical test for the significance of the regression ofvalue on size, including a clearstatement of the hypotheses.  (Note that for a SimpleLinear Regression you can use either the Test for IndividualSignificance or the Test of JointSignificance.   You will reach identicalconclusions)

k)              Whatpractical conclusion can a realtor draw from the hypothesis test inj)?

Data:

Address	Appraised Value	House Size (square feet)
182 Village Road	681.4	2194
108 Burnham Avenue	606.0	3032
143 Powerhouse Road	457.9	1970
55 Hummingbird Drive	912.7	3356
40 Maple Street	416.7	2070
47 Magnolia Lane	726.6	2826
35 Harding Avenue	393.1	1606
100 Crescent Lane	612.4	2063
222 Garden Street	355.4	1392
6 Church Street	299.0	1120
12 Ridge Drive	471.0	1817
24 Madison Place	510.7	2496
18 Rockhill Road	517.7	1615
65 Elm Drive	873.3	4067
30 Wren Drive	854.7	3130
54 Lambert Street	374.8	1423
38 Magnolia Lane	543.0	1799
75 Burnham Avenue	554.0	2936
19 Oxford Street	365.2	1439
215 Elm Drive	811.8	4065
34 The Oaks	711.8	2191
2 Circle Lane	598.7	2008
70 Rugby Road	651.3	2070
150 Warner Avenue	511.1	2710
31 West Court	379.3	1416
7 The Locusts	786.0	3244
65 Starling Court	768.7	2493
106 Barberry Lane	679.9	2473
17 South Drive	615.8	1968
8 Woodland Road	766.4	3136