The commercial division of a real estate firm is
conducting a regression analysis of the relationship between
x, annual gross rents (in thousands of dollars), and
y, selling price (in thousands of dollars) for apartment
buildings. Data were collected on several properties recently sold
and the following computer output was obtained.
The regression equation is | |||
Y = 20.0 + 7.27 X | |||
Predictor | Coef | SE Coef | T |
Constant | 20.000 | 3.2213 | 6.21 |
X | 7.270 | 1.3626 | 5.29 |
Analysis of Variance | |||
SOURCE | DF | SS | |
Regression | 1 | 41,587.2 | |
Residual Error | 7 | ||
Total | 8 | 51,984.6 |
A) How many apartment buildings were in the sample?
B) Write the estimated regression equation (to 2 decimals if
necessary).
ŷ = +
C) What is the value of sb1 (to 4 decimals)?
D)
Use the F statistic to test the significance of the relationship at a .05 level of significance.
Compute the F test statistic (to 2 decimals).
E) Predict the selling price of an apartment building with gross
annual rents of $60,000 (to 1 decimal).
$ thousands.
Get Answers For Free
Most questions answered within 1 hours.