A real estate builder wishes to determine how house size (House) is influenced by family income (Income) and family size (Size). House size is measured in hundreds of square feet and income is measured in thousands of dollars. The builder randomly selected 50 families and ran the multiple regression. Partial Microsoft Excel output is provided below:
a. Referring to Scenario 13-4, what annual income (in thousands of dollars) would an individual with a family size of 4 need to attain a predicted 10,000 square foot home (House = 100)?
b, Referring to Scenario 13-4, what is the predicted house size (in hundreds of square feet) for an individual earning an annual income of $40,000 and having a family size of 4?