An agend for a residential real estate company in a suburb located outside of Washington, DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, th life to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent s a sample of 48 one-bedroom apartments and collects and stores the data. a. Construct a scatter plot. b. Use the lease-squares method to determine the regression coefficient b0 and b1 c. Interpret the meaning of b0 and b1 in this problem d. Predict the mean monthly rent for an apartment that has 800 square feet. e. Why would it not be appropriate to use the model to predict the monthly rent for apartments that have 1,500 square feet? f. Your friends Jim and Jennifer are considering signing a lease for a one-bedroom apartment in this residential neighborhood. They are trying to decide between two apartments, on with 800 square feet for a monthly rent of $1,130 and the other with 830 square feet for a monthly rent of $1,410. Based on (a) through (d), which apartment do you think is a better deal? gton, DC, has the business ments. Toward that goal, the agent would hly rental cost. The agent selects Size (Square feet) 524 616 666 830 450 550 780 815 1070 610 835 660 590 675 744 820 912 628 645 840 800 804 950 800 787 960 750 690 840 850 965 1060 665 775 960 827 655 535 625 749 Rent ($) 1110 1175 1190 1410 1210 1225 1480 1490 1495 1680 1810 1625 1469 1395 1150 1140 1220 1434 1519 1105 1130 1250 1449 1168 1224 1391 1145 1093 1353 1530 1650 1740 1235 1550 1545 1583 1575 1310 1195 1200 634 641 860 740 593 880 895 692 1185 1444 1385 1275 1050 1650 1340 1560