You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales in order to estimate what the actual auction price will be. Add a new variable that describes the potential interaction between the loan amount and the number of payments made.
Loan  Monthly Payments  Payments Made  Auction Price  
$  85,615  $  1,026.96  1  $  19,475  
113,393  990.66  34  33,975  
111,466  751.28  9  45,675  
100,925  855.98  8  16,600  
97,600  860.23  16  40,700  
104,400  983.27  19  63,100  
113,800  1,075.54  21  72,600  
116,400  1,087.16  35  72,300  
100,000  900.01  33  58,100  
92,800  683.11  36  37,100  
105,200  915.24  34  52,600  
105,900  905.67  38  51,900  
94,700  810.70  25  43,200  
105,600  891.33  20  52,600  
104,100  864.38  7  42,700  
85,700  1,074.73  30  22,200  
113,600  871.61  24  77,000  
119,400  1,021.23  58  69,000  
90,600  836.46  3  35,600  
104,500  1,056.37  22  63,000  
A.
Determine the regression equation. (Round your answers to 3 decimal places. Negative amounts should be indicated by a minus sign.)

Complete the following table. (Round your answers to 3 decimal places. Leave no cells blank  be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign.)

Compute the tvalue corresponding to the interaction term. (Round your answer to 2 decimal places. Negative amount should be indicated by a minus sign.)
TValue=
A)Applying multiple regression from excel: datadata analysis: regression
Auction price
=129406.631+1.496*loan+21.147*monthly payment+1559.184*payment made+(0.013)*x1x3
Coefficients  Standard Error  t Stat  Pvalue  
Intercept  129406.631  66969.663  1.932  0.072 
loan  1.496  0.566  2.643  0.018 
monthly payment  21.147  29.323  0.721  0.482 
Payments Made  1559.184  1988.459  0.784  0.445 
x1x3  0.013  0.019  0.697  0.496 
tvalue corresponding to the interaction term =0.70
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