An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size, as defined by square footage. A sample of 25 apartments in particular residential was selected, and the analysis of the output as shown below:

OUTPUT Regression Statistics Multiple R 0.850061 R Square 0.722603 Adjusted R Square 0.710543 Standard Error 194.5954 Observations 25 ANOVA Significance df SS MS F F Regression 1 2268777 2268777 59.91376 7.52E-08 Residual 23 870949.5 37867.37 Total 24 3139726 Standard Upper Lower Upper Coefficients Error 1 Stat P-value Lower 95% 95% 95.0% 95.0% Intercept 177.1208 161.0043 1.1001 0.28267 -155.942 510.1835 -155.942 510.1835 size 1.065144 0.137608 7.740398 7.52E-08 0.780479 1.349809 0.780479 1.349809