Question
In: Statistics and Probability
Data for a sample of 30 apartments in a particular neighborhood are provided in the worksheet....
Data for a sample of 30 apartments in a particular neighborhood are provided in the worksheet. You want to see if there is a direct relationship between Size of the Apartment and Rent.
Please see Attached Excel for Data.
Base on your results, If the Size of your Apartment increased by 1 Sq. Ft., on average, the Rent would increase by approximately how much?
Place your answer, rounded to 2 decimal places, in the blank. Do not use any stray punctuation marks or a dollar sign. Make sure you put the 0 in front of the decimal.
For example, 34.56 would be a legitimate entry.
Solutions
Expert Solution
Answer 0.87
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Explanation below:
The following sample of 30 apartments was used:
The result of the linear regression in Excel was:
It can be seen that the coefficient of Size is
0.8690
So if size was increased by 1 Sq Ft. the Rent would increase by
0.87
orchestra answered 1 year agoRelated Solutions
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