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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 estimates
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 ($) 875 1,600 800 1,500 1,950 925 1,800 1,250 Size (Square Feet) 750 1,300 900 1,150 1,900 700 1,250 1,050 a. Construct a scatter plot. Choose the correct graph below. O A. O B. O C. D. 1Rent ($) 2,000- Q ARent (S) 2,000 ARent (S) 2,000- Rent (S) 2,000- . . 2,000 0+ Size (Sq ft) 2,000 2,000 Size (sq ft) Size (Sq ft) 2,000 Size (Sq ft) b. Use the least-squares method to determine the regression coefficients bo and by . bo = (Round to one decimal place as needed.)
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