A real estate investor collects the following data on a random sample of apartments on the west
Question:
a. Plot the data as a scatter diagram with Y = rent and X = size.
b. Determine the equation of the fitted line relating rent to size.
c. What is the estimated increase in rent for an additional square foot of space?
d. Forecast the monthly rent for an apartment with 750 square feet.
Transcribed Image Text:
Rent Rent Size Size (S per month) (sq.ft.) (S per month) (sq.ft.) 720 595 915 760 1,000 790 880 845 .000 900 1,200 810 1,210 860 1.135 960 650 748 685 755 815 745 715 885 800 960 650 970 1,000 1.000 1,000 1,180
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a b Rent 2755 518 Size c Slope coefficient 518 In...View the full answer
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