2. A real estate expert wanted to find the relationship between the sale price of houses and various characteristics of the houses. He collected data on five variables, recorded in the table, for 12...

Extracted text: 2. A real estate expert wanted to find the relationship between the sale price of houses and various characteristics of the houses. He collected data on five variables, recorded in the table, for 12 houses that were sold recently. The five variables are: Sale price of a house in thousands of dollars. Size of the lot in acres. Price: Lot Size: Living Area: Living area in square feet. Age: Type of house: town house (T) or Villa (V) Age of a house in years. Living Area Price Lot Size Age Туре of house 255 1.4 2500 8 T 178 0.9 2250 12 263 1.8 2900 127 0.7 1800 24 305 2.6 3200 10 164 1.2 2400 18 245 2.1 2700 9 146 1.1 2050 28 287 2.8 2850 13 189 1.6 2600 9 211 1.7 2300 8. 123 0.5 1700 11 a) Find the general regression equation b) Which independent variables are linearly related to price? c) How is the fit of the model? E BBBB BB>>}>> >{