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The commercial division of a real estate firm is conducting a regression analysis of the relationship between a, annual gross rents (in thousands of dollars),
The commercial division of a real estate firm is conducting a regression analysis of the relationship between a, annual gross rents (in thousands of dollars), and y, selling price (in thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. ANOVA df SS MS F Significance F Regression 41587.5 Residual Total 51984.2 Coefficients Standard Error t Stat P-value Intercept 20.000 3.2213 6.21 Annual 7.210 1.3623 5.29 Gross Rents a. How many apartment buildings were in the sample? b. Write the estimated regression equation (to 2 decimals if necessary). y = c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance. What is the p-value? Use Table 2 of Appendix B. p-value is - Select your answer - What is your conclusion? - Select your answer - d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance. Compute the F test statistic (to 2 decimals). What is the p-value? Use Table 4 of Appendix B. p-value is - Select your answer - What is your conclusion? - Select your answer - e. Predict the selling price of an apartment building with gross annual rents of $60,000 (to 1 decimal). $ thousands
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