I need help with this Stat problem, Simple linear regression results: Dependent

Question

I need help with this Stat problem,

Simple linear regression results:
Dependent Variable: TLArea
Independent Variable: Price
TLArea = -599.52603 + 0.0042544337 Price
Sample size: 85
R (correlation coefficient) = 0.89152906
R-sq = 0.79482407
Estimate of error standard deviation: 315.30603

Questions?

(Part H) State the regression equation: which is -599.52603 + 0.0042544337

Interpret the slope of the regression line(in context of the data set)?

Is it meaningfull to intrepret the y intercept? why or why not?

State r-equared(i.e., the coefficient of determination) explain what this value means in contect of the data set?

Explanation / Answer

Answer to all question here:

(Part H) State the regression equation:
TLArea = -599.52603 + 0.0042544337*Price

Interpret the slope of the regression line(in context of the data set)?
It means that for a unit increase in PRice, the TLArea increases by 0.0042544337

Is it meaningfull to intrepret the y intercept? why or why not?
It is meaningfull to interpret the y intercept. because the Rsquare is quiet high, the line fit is decent, shows that the equation has a high predictive power. Hence,
we can try to interpret the y intercept.

State r-equared(i.e., the coefficient of determination) explain what this value means in contect of the data set?
The r-squared gives the amount of variance in TLArea that is explained by Price. That' 79.48241%

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