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An agent for a residential real estate company in a suburb located outside a major city has the business objective of developing more accurate
An agent for a residential real estate company in a suburb located outside a major city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward the goal, the agent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 8 one-bedroom apartments and the data are shown. Complete parts (a) through (f). Monthly Rent ($) Size (Square Feet) 800 1,200 900 925 1,600 850 1,450 1,950 900 1,800 1,250 1,250 2,000 650 1,350 1,050 a. Construct a scatter plot. Choose the correct graph below. OA. ARent (5) 2,000- G 2,000 Size (Sq ft) B. ARent (5) 2,000 G 2,000 D. ARent ($) ARent (5) 2,000 2,000- b. Use the least-squares method to determine the regression coefficients by and b. bo (Round to one decimal place as needed.) 2,000 2,000 Size (Sqft) Skre (5)
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