Question
12. (Pricing real estate, 4 points) Based on Regression 1, how confident can one be that Ms. Wagner's real estate property will rent for at
12. (Pricing real estate, 4 points) Based on Regression 1, how confident can one be that Ms. Wagner's real estate property will rent for at least $10,000 per month? less than 1% confident at least 1% confident but less than 2.5% confident at least 2.5% confident but less than 16% confident at least 16% confident but less than 50% confident at least 50% confident but less than 84% confident at least 84% confident but less than 97.5% confident at least 97.5% confident but less than 99% confident at least 99% confident 13. (Pricing real estate, 2 points) Using Regression 2, construct a 95% confidence interval for the monthly rent (TotalRent) that Ms. Wagner can get for her real estate property. What is the value of the lower end of the 95% confidence interval? (Note that the question is asking for the total amount of rent, not rent per square foot.)
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