] A real estate agent specializing in commercial real estate wanted a more precise method of judging the likely selling price (in $1,000s) of apartment buildings. As a first effort, she recorded the price of a number of apartment buildings sold recently and the number of square feet (in 1,000s) in the building.

(a)Generate a scatter plot for the data.

(b)Write the regression equation that relates the price of an apartment buildings to the number of square feet in the building.

(c)Interpret the slope of the equation in (b).

(d)Determine the coefficient of correlation and the coefficient of determination.

(e)Use the answer in (b) to estimate the price of a 50,000 square foot apartment building.

(f)At the 1% significance level, test if there is a linear relationship between the two variables.