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8 TB MC Qu. 14-97 (Algo) A real estate analyst believes that... A real estate analyst believes that the three main factors that influence an
8 TB MC Qu. 14-97 (Algo) A real estate analyst believes that... A real estate analyst believes that the three main factors that influence an apartment's rent in a college town are the number of bedrooms, the number of bathrooms, and the apartment's square footage. For 40 apartments, she collects data on the rent (y. in $), the number of bedrooms (x1), the number of bathrooms (x2). and its square footage (x3). She estimates the following model as Rent = 60 + 61 Bedroom + 62 Bath + 63 Saft + E. The following ANOVA table nts shows a portion of the regression results. 00:32:52 SS MS Regression 3 5,694, 768 1, 898, 256 50. 88 Residual 36 1, 343, 076 37, 308 Book Total 39 7,037, 844 Coefficients Standard Error t-stat p-value Intercept 308 78.0 3.95 0.0010 eferences Bedroom 202 63.3 3.19 Bath 76 53.4 1.42 0. 1196 Saft 0.2 0.07 2.86 0. 0268 The slope coefficient for Bedroom indicates that, holding other explanatory variables constant. Multiple Choice O for each additional bedroom the rent is predicted to increase by $0.20 O for each additional bedroom the rent is predicted to increase by $308 O for each additional bedroom the rent is predicted to increase by $202 O for each additional bedroom the rent is predicted to increase by $76
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