Feb 3rd, 2012
Studypool Tutor
California Institute of Technology
Course: operations management
Price: $5 USD

Tutor description

An agent for a residential 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 in square footage. Data was gathered from a sample of 25 apartments in a particular residential neighborhood and an ordinary least squares regression was run. The sample rents range from $875 to $2,300 and the sample sizes range from 800 to 1,985 square feet. The output from the Excel regression is provided in the attachment. 1. Write out the regression equation (with the calculated coefficient estimates). 2. Interpret the meaning of b0 and b1 in this problem 3. What is the coefficient of determination (r2) and what does it tell you about the model? 4. At the 0.05 level of significance, is there evidence of a linear relationship between apartment rent and square footage? Explain. 5. You are considering signing a lease for an apartment in the same neighborhood. The apartment has 1000 square feet and the rent is $1

Review from student

Studypool Student
" Goes above and beyond expectations ! "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1820 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors