B1 fx Rent ($) Rent 4. There have been times when both home prices and mortgage rates fell to such levels that in several cities, buying a home turned out to be cheaper than renting. This scenario is captured in the data available on the Rent tab of the Week 15 ASMT Data.xlsx Excel file. This tab features data from 15 different markets where this phenomenon was observed. Specifically, it includes the average asking rent and the monthly mortgage payment (which covers the median-priced home along with taxes and insurance) for these markets. To delve deeper into this data and understand the dynamics between home buying and renting costs in these markets, you can use the Analysis ToolPak in Excel. This tool offers various statistical and analytical functions that can help you examine the relationship between average rents and mortgage payments in these markets. (2 decimals) Develop the estimated regression equation that can be used to predict the monthly mortgage given the average asking rent. 2 A 1 City B C Rent ($) Mortgage ($ 3 4 5 6 7 y=. + 8 Compute the coefficient of determination. 9 10 Week 15 Assignment (QBA 237) 3 11 12 13 14 % What percentage of the variation in monthly mortgage can be explained by average asking rent? 15 16 ABCDEFGHIKLMNO 810 703 816 606 568 534 994 952 890 678 880 617 806 739 815 661 897 741 J 735 670 868 608 972 901 981 902 1058 1026 900 771 A city has an average monthly mortgage of $951. What would you predict would be the average asking rent in this city? $ 17 What is the value of the standard error of the estimate? $. Factory Business X&Y Rent Hom