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A real estate research firm has developed a regression model relating list price (Y in $1,000) with two independent variables. The two independent variables are number of bedrooms and size of the property. Part of the regression results are shown below.
ANOVA df SS MS
Regression 2 154881.37 77440.69
Residual 57 899723.61 15784.62
Coefficients Standard Error t Stat
Intercept 74.298 91.326
# Bedrooms 73.634 25.271
Acres 41.458 38.630
1. What has been the sample size?
2. What is the value of the F test statistic for testing whether the regression model is significant?
3. What is the rejection rule for testing whether the regression model is significant at the 0.05 level of significance?
4. What is the value of the t test statistic for testing whether the variable Acres is significant?
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