18. What is the critical value (absolute) of the test statistic for testing (t-test) the significance of the independent variable as a predictor at the 5% significance level?A. 6.314 B. 2.306 C. 3.143 D. 2.447

E. 1.9619. Based on the outcome of the hypothesis test for the slope of the regression line at the 5% significance level, we can conclude that:

20. The 95% confidence interval for the slope indicates that:

21. Assumingthat the intercept is 20 and the slope is 0.5, what would be the absolute value of the residual for the very first observation appearing in the data set?

E. 20Use the following information to answer the next 8 questions. Real-estate agents use The Wall Street Journalto advertise exceptional properties to gain maximum exposure to potential buyers outside a local area. A random sample of 20 properties inthe Houston metropolitan area are selected, and the price, number of bedrooms, and square footage are recorded.LocationPrice BedroomsSqfootageHouston1,150,00056800Sugar Land995,00065900The Woodlands679,00064550Etc.In the following model, Price is predicted by examining number of bedrooms, square footage, and location with Houston and SugarLand set to equal 1 if that is the house location and 0 otherwise.SUMMARY OUTPUTRegression StatisticsMultiple R0.957R Square0.916Adjusted R Square0.890Standard Error87808.943Observations18ANOVAdfSSMSFSignificance FRegression41.091E+122.728E+1135.387.149E-07Residual131.002E+117710410543Total171.191E+12t StatP-valueLower 95%Upper 95%-4.2820.00089338-1088628.8-358456.1-0.0190.98491455-67896.166695.28.9036.8037E-07231.6380.0-1.6860.11554424-376767.646416.9-0.6960.49871244-230518.2118185.0Std Error PredictionLower95% MeanUpper95% MeanLower95%PredictUpper95%Predict82942.5317997.9676371.0236236.6758132.322.The amount of variation in Price explained by these independent RESIDUAL OUTPUTObservationStandardized Residuals1-0.7732-0.35130.46442.29050.63060.2117-0.99080.76291.251100.24811-0.989121.28313-1.07714-0.38815-1.15016-1.03917-0.80618-0.146

variables is ____ in this sample.A. 18%B. 89.0%C. 91.6%D. 95.7%E. 87801%

23. According to the least squares regression model from this sample and assuming all the other variables are held constant, which area’s Price is the highest on average?