Chasewood Apartments is a 300-unit complex near Fairway University that attracts mostly university students.The manager has collected the following data and wants to project the number of units leased in Semester 9 using simple linear regression.Here is the information that has been collected:

Semester

University Enrollment

(in thousands)

Average Lease Price ($)

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

In answering these questions, you must identify and use the correct independent and dependent variables.

a) The apartment manager wants to forecast the Number of Units Leased as a function of time.What is the linear regression relationship the manager should use and what is the forecast for the Number of Units Leased for Semester 9?

b)Suppose the manager believes that the Number of Units Leased is a function only of University Enrollment.It is believed that there will be a one semester lag between the enrollment and the units leased.In other words, the number of units leased in a semester is a function of the university enrollment in the prior semester. What is the linear regression relationship the manager should use and what is the forecast for the Number of Units Leased for Semester 9?

c)Suppose the manager believes that the Number of Units Leased is a function only of the Average Lease Price for that semester. What is the linear regression relationship the manager should use and what is the forecast for the Number of Units Leased for Semester 9 if the average lease price for that semester is $460?

d) Considering the strength of each of the relationships that you found in parts a) through c), would you use any of these to forecast the Number of Units Leased for Semester 9?Explain your answer.