Use the Following to Answer the Questions Below

Essay

Use the following to answer the questions below:
A quantitatively savvy, young couple is interested in purchasing a home in northern New York. They collected data on 48 houses that had recently sold in the area. They want to predict the selling price of homes (in thousands of dollars) based on the size of the home (in square feet).
The regression equation is Price (in thousands) = 17.1 + 0.0643 Size (sq. ft.)

-Use the computer output to test the slope, at the 5% level, to determine whether size (in square feet) is an effective predictor of the selling price of recently sold homes. Include all details of the test.