Please check work. Thanks The sales manager at City Real Estate Company is inter

Question

Please check work. Thanks

The sales manager at City Real Estate Company is interested in describing the relaonship between condo sales prices and the number of weeks the condo is on the market before it sells. He has collected a randonm sample of 17 low-end condos that have sold within the past three months. Complete parts a through b below. Click the icon to view the data table. a. Develop a simple linear regression model to explain the variation in selling price based on the number of weeks the condo is on the market. The regression equation is y-57765.73 + (1953:02U X. Round to two decimal places as needed.) b. Test to determine whether the regression slope coefficient is significantly different from 0 using a significance level equal to 0.01 What are the correct hypotheses to test? Ha: 1-o Ha: 1 20 HA: 1

Explanation / Answer

1) I have developed linear regression in R

model<-lm(y~x)

Output was y=57766+953 x

2) Test to check wheather the regression slpoe cofficient significantly different from 0 is t test.

3) Test statistics value is t=4.043

4) P value is 0.00106

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