A Florida real estate appraisal company regularly employs a pairedsales techniqu

Question

A Florida real estate appraisal company regularly employs a pairedsales technique to evaluate land sales. When two parcels of landare sold, the ratio of the acreage of the larger parcel to thesmaller parcel is calculated as well as the difference in saleprices (measured as a percentage of the higher sale price andcalled a downward adjustment). The variables land sale ratio x (in%) and downward price adjustment y (in Thousands of Dollars) weremeasured for a random sample of 14 pairs of land sales in SeminoleCounty, Florida as following:

a) Find the Intercept and the Slope for Land Sale Ratio x.
b) Write down the regression equation and interpret it.
c) Predict the downward price adjustment for the land sale ratio of50.0, interpret the result.
d) Find the 95% confidence interval for the Slope. Interpret theresult.
e) State the model and parameters significance using the output.Find the Correlation and the Coefficient of Determinations andinterpret the results.

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