# Regression of MedIncome

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a. Perform a simple regression using MedIncome as the explanatory variable for Sale/Sq Ft. Assess the model by performing the test of significance on the slope, determining and interpreting R-sq and briefly assessing the standard error of the estimate.

b. Perform a simple regression using MedAge as the explanatory variable for Sale/Sq Ft. Assess the model by performing the test of significance on the slope, determining and interpreting R-sq and briefly assessing the standard error of the estimate.

c. Which explanatory variable is the better predictor of sales per square feet? Support your answer by citing the appropriate diagnostic statistics. Interpret the slope of the better predictor.

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The solution discusses the regression of MedIncome.

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a.

ANOVA

df SS MS F Significance F

Regression 1 702.4837467 702.4837467 0.036808961 0.848394582

Residual 72 1374090.111 19084.58487

Total 73 1374792.595

Coeff. Stand. Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%

Intercept 431.1 58.9 7.3 ...

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