6. _______A regression was performed to predict selling price of houses based on Price in dollars, Area in square feet, Lotsize in square feet, and Age in years. The R2 is 92%. The equation from this regression is given here
Price = 169328 + 35.3 Area + 0.718 Lotsize – 6543 Age
Which of the following statements is correct according to the model?
A. Each year a house ages, it is worth $6543 less.
B. Every extra square foot of area is associated with an additional $35.3 in average price, for houses with a given lot size and age.
C. Every additional dollar in price means lot size increases 0.718 square feet, for houses with a given area and age.
D. This model fits 92% of the data points.
E. None of the above are true.
Please show work and correct answer.