Fit a regression model with log(acre Price) as the response and a factor representing the year. Provide an interpretation of the estimated parameters. Interpret the t-statistics. Fit the regression...

Fit a regression model with log(acre Price) as the response and a factor representing the year. Provide an interpretation of the estimated parameters. Interpret the t-statistics.

Fit the regression model as in the last sub problem, but this time omit the intercept. Show that the parameter estimates are the means of log(acre Price) for each year. The standard error of the sample mean in year j is
  where SDj and nj are the sample standard deviation and sample size of the for the jth year. Show that the standard errors of the regression coefficients are not the same as these standard errors and explain why they are different.