Size (Square feet)	Rent ($)
655	1975
663	1581
718	1429
665	1350
715	1633
903	1807
708	1632
785	1528
955	1800
525	1206
630	1421
731	1870
694	1858
685	1782
675	1750
750	1440
610	1212
531	1176
750	1270
675	1503
725	1595
820	1795
660	998
535	1080
628	1337
434	1075
775	1574
707	1556
702	1300
872	1400
578	1200
470	1450
770	1590
784	1525
872	1575
675	1478
768	1450
797	1750
600	1150
660	1850
925	1650
650	1275
550	1100
665	1398
916	1600
850	1350
750	1550
900	1300
690	1600
574	1300
800	1500
775	1400
873	1650
814	1575
739	1600
820	1425
665	1270

13.9 An agent for a residential real estate company in a suburb located outside of Washington, DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that 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 57 one-bedroom apartments and collects and stores the data in Silver Spring Rentals a. Construct a scatter plot. b. Use the least-squares method to determine the regression coefficients bo and b1. c. Interpret the meaning of bo and bj in this problem. d. Predict the mean monthly rent for an apartment that has 800 square feet. e. Why would it not be appropriate to use the model to predict the monthly rent for apartments that have 1,500 square feet? f. Your friends Jim and Jennifer are considering signing a lease for a one-bedroom apartment in this residential neighborhood. They are trying to decide between two apartments, one with 800 square feet for a monthly rent of $1,130 and the other with 830 square feet for a monthly rent of $1,410. Based on (a) through (d), which apartment do you think is a better deal