Question
Can someone explain the problem in excel and show the formula Joan Newman has collected the following data relative to housing and university enrollment. Semester
Can someone explain the problem in excel and show the formula
Joan Newman has collected the following data relative to housing and university enrollment.
Semester | University Enrollment (thousands) | Average Lease price ($ per month) | Number of Units Leased |
1 | 7.2 | $450 | 291 |
2 | 6.3 | $460 | 228 |
3 | 6.7 | $450 | 252 |
4 | 7.0 | $470 | 265 |
5 | 6.9 | $440 | 270 |
6 | 6.4 | $430 | 240 |
7 | 7.1 | $460 | 288 |
8 | 6.7 | $440 | 246 |
Your work must reflect the correct independent and dependent variables based on the problem statements. This is part of the solution that is required.Provide your forecasts to one decimal place ($xxx.x).
a) Joan believes that there is a linear relationship between university enrollment and the number of apartment units leased based only on university enrollment. What is this regression relationship and what is the forecast of apartments leased if the enrollment is expected to be 6,700 students? How strong is this relationship?
b) Now, Joan wants to forecast the number of apartments leased based only on the average lease price.What is this regression relationship and what is your forecast if the average lease price is to be $475? How strong is this relationship?
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