An agent fora 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 dened 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). i Monthly Rent ($) 950 1,550 800 1,450 1,950 925 1.750 1,400 121 Size (Square Feet) 800 1,250 900 1,150 1,800 750 1,300 1,050 O A. Rent (3) , 2,000 9'. 0 2,000 0 2.000 0 2,000 " 0 2.000 5429 (5'1\") Slze (sq ft) Srze (Sq it) 3'29 (Sq ft) 0 b. Use the least-squares method to determine the regression coefcients b0 and b1. b0 = D (Round to one decimal place as needed.) b1 2 D (Round to one decimal place as needed.) 1:. interpret the meaning of b0 and b1 in this problem. Choose the correct answer below. O A. For each increase of 1 square foot in space, the monthly rent is expected to increase by b1 dollars. Since X cannot be zero. b0 has no practical interpretation. 0 B. For each increase of 1 square foot in space, the monthly rent is expected to increase by b0 dollars. Apartments in this neighborhood cost at least b1 dollars. 0 C. For each increase of 1 square foot in space, the monthly rent is expected to increase by b0 dollars. Since X cannot be zero, b1 has no practical interpretation. 0 D. For each increase of 1 square foot in space, the monthly rent is expected to increase by b1 dollars. Apartments in this neighborhood cost at least be dollars. d. Predict the mean monthly rent for an apartment that has 1,000 square feet. The predicted mean monthly rent for such an apartment is $D. (Round to the nearest cent as needed.) riate to use the model to predict the monthly rensfor apartments that have 500 squa / e. Why would it not be approp re feet? 0 A. The size of an apartment has no effect on the monthly rent, according to this model. There must be another factor that contributes to the rent price. is outside the relevant range for the-independent variable. O B. An apartment with 500 square feet prediction. een an apartment's size and Its monthly rent is too weak to use this model for such a O C. .The correlation betw cl be unrealistically low. O D. The model predicts that the monthly rent for an apartment that has 500 square feet woul 1'. Two people are considering signing a lease for an apartment in this neighborhood. They are trying to decide between two