A realtor has examined the impact of lot size on housing prices for homes in a lakeside resort. The output appears on the next page.

A realtor has examined the impact of lot size on housing prices for homes in a lakeside resort. The output appears on the next page. One of his colleagues believes that the realtor should also have included whether the house was lakeside as another independent variable. The realtor added this dummy variable to the regression (1=house is lakeside; 0=not). The new regression is also presented on the next page. a) (3 points) What is the regression equation? (I want the specific estimates for the coefficients for the regression including the lakeside variable.) b) (3 points) What is your interpretation of the slope coefficient on lakeside? c) (8 points) Explain the interpretation of the “significance F” value in the regression output. Specifically, what are the hypotheses being tested? What is the purpose of the test? What can you conclude about the result of the test given the estimate of the “significance F” output? d) (6 points) Should the lakeside variable be included in the regression? Why or why not? Be sure to comment on the significance of the lakeside dummy variable and the improvement of the regression fit.