Property rental. A real estate agent wants to analyze the relationship between the rental price of a property and its distance from the city center. He collects information on 20 properties’ monthly rental price (in $), all of which are of the same type but are located in different parts of the city and measures their distance (in km) from the city’s center.

a) Examine a scatterplot of the monthly property rental price and distance. Check the conditions for regression.

b) Do you think there is a linear association between the property rental price and distance?

c) Compute and discuss the regression model.