11.13 An agent for a real estate company in a large European city collected data, as shown in the following table, on the sizes (x in square feet) and monthly rents (y in euros)

of a sample of eight apartments in a neighborhood.

Monthly Rent (€) 900 1500 825 1600 2000 950 1750 1400 Size (square feet) 900 1250 950 1100 2000 750 1350 1100 Consider the following rent prediction model:

yn i = 222.6 + 0.973xi

a. Estimate the mean monthly rent for an apartment of 1,000 square feet.

b. Interpret the coefficients b0 and b1 for the real estate company.

c. You have been asked to estimate the mean monthly rent for an apartment of 2,500 square feet. Discuss how you would proceed and indicate your cautions.