Question

Score: 1.6 of 4 pts 8 of 10 (10 complete) HW Score: 64.05%, 25.62 of 40 x 12.3.21-T :s Question Help An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of eight apartments in a neighborhood was selected, and the information gathered revealed the data shown below. For these data, the regression coefficients are bo = 84.0951 and by = 1.0914. Complete parts (a) through (d). Monthly Rent ($) 875 1,550 825 1,450 1,900 900 1,800 1,250 Size (Square Feet) 850 1,300 950 1,150 1,800 650 1,300 1,050 B. r measures the proportion of variation in apartment size that can be explained by the variation in monthly rent. O OC. measures the proportion of variation in monthly rent that cannot be explained by the variation in apartment size. D. measures the proportion of variation in monthly rent that can be explained by the variation in apartment size. b. Determine the standard error of the estimate, Syy. Syx = (Round to three decimal places as needed.)

Answer 1

The statistic software output for this problem is:

Simple linear regression results: Dependent Variable: Size Independent Variable: Monthly rent Size 155.669140.73977695 Monthly rent Sample size: 8 R (correlation coefficient) 0.89855342 R-sq 0.80739825 Estimate of error standard deviation: 165.63731

b)

S_YX = 165.637