Question
An agent for a real estate company in a large city collected data on the sizes...
An agent for a real estate company in a large city collected data on the sizes (X in square feet) and monthly rents (Y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below.
| Monthly Rent ($) | Size (Square Feet) |
| 925 | 800 |
| 1550 | 1300 |
| 800 | 900 |
| 1450 | 1200 |
| 1900 | 2000 |
| 925 | 650 |
| 1750 | 1350 |
| 1300 | 950 |
A) Use the least-square method to find the regression coefficients b0 and b1
B) What do b0 and b1 mean in this problem?
C) Predict the mean monthly rent for an apartment that has 1,000 square feet
Homework Answers
Answer #1
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