1The K3 Estate Ltd is into estate development operating around Madina and Adenta areas. Thecompany wants to know whether Monthly Income, Age and Educational level can be used todetermine House Size of their customers. As a Quantitative Analyst use the followingRegression output in the tables to answer the questions that follow:SUMMARY OUTPUTRegression StatisticsMultiple RR SquareAdjusted R. SquareStandard ErrorObservationsANOVARegressionResidualTotalInterceptAgeEducationLevelMonthlyIncome0.8640540.5945441.006797SSMSF14.9318 4.977266 4.9102861.01364135 5.068203820StandardErrorSignificanceF0.049566Lower95%Upper95%2.688690.000473 0.087385Coefficients1 Stat P-value-0.13123 1.096997 -0.11963 0.909436 -2.951150.043929 0.0169050.301484 -0.31237 0.767365 -0.86916 0.6808140.000771 0.000269 2.865152 0.035194 7.93E-05 0.001463 (iv)(v)(vi)(vii)Which of the independent variable(s) is/are significant in explaining the changes inHouse Sizes and why?If age changes by 1 unit, state the range of values within which House Size will fallfor 95% confidence level.Test the significance of Monthly income at 5% level. Interpret your results.Predict the Size of a House if Monthly Income of a customer of K3 Company Ltdincreases by Ghs500, Age by 2 years and Education level by 2 units.

There is a statistics summary output of a multiple regression model.Which is used to examine the…

Answered: SUMMARY OUTPUT Regression Statistics…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 1GP

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SUMMARY OUTPUT Regression Statistics Multiple R R. Square Adjusted R Square Standard Error Observations 0.864054 0.594544 1.006797