Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Retailing Management

Authors: Michael Levy, Barton Weitz, Dea Watson

4th Canadian Edition

70893209, 978-0070893207

Students also viewed these Mathematics questions

Question

3. Deal with less-severe problems later.

Answered: 1 week ago