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11 You may need to use the appropriate technology to answer this question. The commercial division of a real estate rm is conducting a regression
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You may need to use the appropriate technology to answer this question. The commercial division of a real estate rm is conducting a regression analysis of the relationship between x, annual gross rents (in thousands of dollars), and y, selling price (in thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. Analysis of Variance SOURCE DF Adj SS Regression 1 41587 .3 Error 7 Total 8 51984 . l Predictor Coef SE Coef TrValue Constant 20.000 3.2213 6.21 X 7.210 1.3626 5.29 Regression Equation Y : 20.0 + 7.21 X (a) How many apartment buildings were in the sample? [Ev (b) Write the estimated regression equation. ;7 = 20 + 7.21x J (c) What is the value of Sbl? 1.3626 ,/ Find the value of the test statistic. (Round your answer to two decimal places.) 2?.93 3 Find the p-value. (Round your answer to three decimal places.) p-value = 0.001 ,/Step by Step Solution
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