Price 105.2 183.8 207.5 130.9 162.7 110.9 101.4 133.3 117.3 152.5 112.1 130.6 101.9 117.6 148.7 113.2 3 55.7 136.2 163.7 139.9 92 66.4 131.9 11 27.9...

A developer who specializes in summer cottage properties is considering purchasing a large tract of land adjoining a lake. The current owner of the tract has already subdivided the land into separate building lots and has prepared the lots by removing some of the trees. The developer wants to forecast the value of each lot. From previous experience she knows that the most important factors affecting the price of the lot are size, number of mature trees, and distance to the lake. From a nearby area, she gathers the relevant data for 60 recently sold lots. Data are in attached file. Use a 5% significance level. a) Find the regression equation. b) What is the standard error of estimate? Interpret its value. c) What is the coefficient of determination? What does this statistic tell you?