SOLUTION: 1. (10 points) Refer to the Real Estate data , which reports information on homes sold in Venice, Florida, last year. The data is attached in Excel. Let selling price be the de

Question 323286: 1. (10 points) Refer to the Real Estate data , which reports information on homes sold in Venice, Florida, last year. The data is attached in Excel.
Let selling price be the dependent variable and size of the home the independent variable.
a. Determine the regression equation.
b. Estimate the selling price for a home with an area of 2,200 square feet.
c. Determine the 95 percent confidence interval and
d. the 95 percent prediction interval for the selling price of a home with 2,200 square feet.
Data:
Price Bedrooms Size Pool Distance Twnship Garage Baths
263.1 4 2300 1 17 5 1 2
182.4 4 2100 0 19 4 0 2
242.1 3 2300 0 12 3 0 2
213.6 2 2200 0 16 2 0 2.5
139.9 2 2100 0 28 1 0 1.5
245.4 2 2100 1 12 1 1 2
327.2 6 2500 0 15 3 1 2
271.8 2 2100 0 9 2 1 2.5
221.1 3 2300 1 18 1 0 1.5
266.6 4 2400 0 13 4 1 2
292.4 4 2100 0 14 3 1 2
209 2 1700 0 8 4 1 1.5
270.8 6 2500 0 7 4 1 2
246.1 4 2100 0 18 3 1 2
194.4 2 2300 0 11 3 0 2
281.3 3 2100 0 16 2 1 2
172.7 4 2200 1 16 3 0 2
207.5 5 2300 1 21 4 0 2.5
198.9 3 2200 1 10 4 1 2
209.3 6 1900 1 15 4 1 2
252.3 4 2600 0 8 4 1 2
192.9 4 1900 1 14 2 1 2.5
209.3 5 2100 0 20 5 0 1.5
345.3 8 2600 0 9 4 1 2
326.3 6 2100 0 11 5 1 3
173.1 2 2200 1 21 5 1 1.5
187 2 1900 0 26 4 0 2
257.2 2 2100 0 9 4 1 2
233 3 2200 0 14 3 1 1.5
180.4 2 2000 0 11 5 0 2
234 2 1700 0 19 3 1 2
207.1 2 2000 0 11 5 1 2
247.7 5 2400 0 16 2 1 2
166.2 3 2000 1 16 2 1 2
177.1 2 1900 0 10 5 1 2
182.7 4 2000 1 14 4 0 2.5
216 4 2300 0 19 2 0 2
312.1 6 2600 0 7 5 1 2.5
199.8 3 2100 0 19 3 1 2
273.2 5 2200 0 16 2 1 3
206 3 2100 1 9 3 0 1.5
232.2 3 1900 1 16 1 1 1.5
198.3 4 2100 1 19 1 1 1.5
205.1 3 2000 1 20 4 0 2
175.6 4 2300 1 24 4 1 2
307.8 3 2400 1 21 2 1 3
269.2 5 2200 0 8 5 1 3
224.8 3 2200 0 17 1 1 2.5
171.6 3 2000 1 16 4 0 2
216.8 3 2200 0 15 1 1 2
192.6 6 2200 1 14 1 0 2
236.4 5 2200 0 20 3 1 2
172.4 3 2200 0 23 3 0 2
251.4 3 1900 0 12 2 1 2
246 6 2300 0 7 3 1 3
147.4 6 1700 1 12 1 0 2
176 4 2200 0 15 1 1 2
228.4 3 2300 0 17 5 1 1.5
166.5 3 1600 1 19 3 0 2.5
189.4 4 2200 0 24 1 1 2
312.1 7 2400 0 13 3 1 3
289.8 6 2000 0 21 3 1 3
269.9 5 2200 1 11 4 1 2.5
154.3 2 2000 0 13 2 0 2
222.1 2 2100 0 9 5 1 2
209.7 5 2200 1 13 2 1 2
190.9 3 2200 1 18 3 1 2
254.3 4 2500 1 15 3 1 2
207.5 3 2100 1 10 2 0 2
209.7 4 2200 1 19 2 1 2
294 2 2100 0 13 2 1 2.5
176.3 2 2000 1 17 3 0 2
294.3 7 2400 0 8 4 1 2
224 3 1900 1 6 1 1 2
125 2 1900 0 18 4 0 1.5
236.8 4 2600 1 17 5 1 2
164.1 4 2300 0 19 4 0 2
217.8 3 2500 0 12 3 0 2
192.2 2 2400 0 16 2 0 2.5
125.9 2 2400 0 28 1 0 1.5
220.9 2 2300 1 12 1 1 2
294.5 6 2700 0 15 3 1 2
244.6 2 2300 0 9 2 1 2.5
199 3 2500 1 18 1 0 1.5
240 4 2600 0 13 4 1 2
263.2 4 2300 0 14 3 1 2
188.1 2 1900 0 8 4 1 1.5
243.7 6 2700 0 7 4 1 2
221.5 4 2300 0 18 3 1 2
175 2 2500 0 11 3 0 2
253.2 3 2300 0 16 2 1 2
155.4 4 2400 1 16 3 0 2
186.7 5 2500 1 21 4 0 2.5
179 3 2400 1 10 4 1 2
188.3 6 2100 1 15 4 1 2
227.1 4 2900 0 8 4 1 2
173.6 4 2100 1 14 2 1 2.5
188.3 5 2300 0 20 5 0 1.5
310.8 8 2900 0 9 4 1 2
293.7 6 2400 0 11 5 1 3
179 3 2400 0 8 4 1 2
188.3 6 2100 1 14 2 1 2.5
227.1 4 2900 0 20 5 0 1.5
173.6 4 2100 0 9 4 1 2
188.3 5 2300 0 11 5 1 3

Answer by Fombitz(32388) (Show Source): You can put this solution on YOUR website!
a) xave=2223.81
yave=221.1029
SSXX=6430476
SSYY=230767.6
SSXY=451992.9
b=0.07029
a=yave-b*xave=64.79

$219,4000
c)

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