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1. What is r^2?

1. What is r^2?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1. What is r^2?

2. Determine the standard error of the estimate Syx and intepret its meaning

An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of eight apartments in a neighborhood was selected, and the information gathered revealed the data shown below. For these data, the regression coefficients are bo = 242.6237 and b, = 0.9819. Complete parts (a) through (d). Monthly Rent ($) Size (Square Feet) 925 1,600 825 1,500 2,000 925 1,750 1,400 750 1,250 1,050 1,150 1,900 650 1,350 1,050 ... a. Determine the coefficient of determination, r, and interpret its meaning. ? = (Round to three decimal places as needed.)
Transcribed Image Text:An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of eight apartments in a neighborhood was selected, and the information gathered revealed the data shown below. For these data, the regression coefficients are bo = 242.6237 and b, = 0.9819. Complete parts (a) through (d). Monthly Rent ($) Size (Square Feet) 925 1,600 825 1,500 2,000 925 1,750 1,400 750 1,250 1,050 1,150 1,900 650 1,350 1,050 ... a. Determine the coefficient of determination, r, and interpret its meaning. ? = (Round to three decimal places as needed.)
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