Question

Lot Price Data
Lot Price is lot price in $1000s
Lot Size is lot size in 1000s of square feet
Mature Trees is the number of mature trees on the property
Distance from Water is the distance from the edge of property to the water in feet
Distance from Road is the distance from the main road to the center of the property in miles
Lot Price	Lot Size	Mature Trees	Distance from Water	Distance from Road
105.4	41.2	24	42	0.6
91.2	44.8	5	71	1.3
183.3	21.3	72	43	0.7
93.8	43.9	58	14	0.6
207.5	57.7	52	12	1.3
130.9	33.4	78	26	1.2
162.3	31.4	65	51	1.2
18.8	27.4	22	0	1.1
80.5	26.2	68	83	0.8
38.3	40.0	57	76	0.9
71.3	47.6	53	35	0.9
55.5	31.6	36	26	0.4
85.7	21.6	23	24	0.1
110.5	36.3	48	98	0.9
85.1	47.2	61	59	0.6
78.3	30.5	41	55	1.0
27.2	41.8	1	60	0.8
70.9	20.6	20	33	0.3
101.4	35.3	38	75	0.1
133.3	40.1	68	0	0.9
117.7	35.6	24	41	0.9
49.7	20.6	16	77	0.6
49.6	22.4	32	86	0.7
83.2	45.8	77	19	1.0
81.3	29.4	40	0	0.2
152.5	51.7	60	34	0.8
112.2	27.2	0	16	0.6
37.1	37.0	50	49	1.0
130.2	38.9	48	63	0.7
39.1	32.5	25	45	0.1
81.9	34.0	12	0	0.6
24.6	35.8	16	34	0.4
101.9	32.9	44	42	0.2
117.6	46.4	62	48	0.6
148.8	51.9	59	39	0.2
60.2	28.9	0	66	0.7
43.7	35.2	57	77	0.2
113.1	30.4	70	78	1.2
38.1	38.3	24	62	0.8
89.2	49.2	61	0	1.0
3.0	21.5	46	83	0.7
55.8	41.9	10	69	0.6
89.7	21.8	79	62	0.5
136.1	66.3	56	34	0.5
44.7	28.2	73	77	0.3
63.2	41.9	64	65	1.2
163.4	46.7	69	27	1.0
64.1	32.1	12	0	0.4
98.7	38.5	59	77	0.3
139.9	27.6	0	0	1.1
92.0	47.0	65	37	1.3
66.6	20.7	24	51	0.1
16.4	34.0	12	75	1.3
131.9	31.9	76	63	0.9
11.0	28.0	2	42	0.4
27.9	40.0	52	84	0.8
103.5	46.6	26	70	0.9
107.0	23.2	11	83	0.3
51.6	46.4	53	44	0.6
133.4	32.1	55	98	0.2

Use the Lot Price Data to run a regression in Excel. Your response variable is Lot Price, while the other four variables are all X variables in this regression. The mean of the Predicted Lot Size values (within rounding error of three decimal places) equals the mean of the (actual) Lot Size observation values.

TRUE OR FALSE

Answer 1

The answer is TRUE.

Lot Price
105.40
91.20
183.30
93.80
207.50
130.90
162.30
18.80
80.50
38.30
71.30
55.50
85.70
110.50
85.10
78.30
27.20
70.90
101.40
133.30
117.70
49.70
49.60
83.20
81.30
152.50
112.20
37.10
130.20
39.10
81.90
24.60
101.90
117.60
148.80
60.20
43.70
113.10
38.10
89.20
3.00
55.80
89.70
136.10
44.70
63.20
163.40
64.10
98.70
139.90
92.00
66.60
16.40
131.90
11.00
27.90
103.50
107.00
51.60
133.40