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An agent for a real estate company in a large city collected data on the sizes (x in square feet) and monthly rents (y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below, along with the linear regression equation. Complete parts a through c below. y₁ = 243.5 +0.957x; Monthly Rent ($) 950 1,600 825 1,450 1,950 Size (Square Feet) 750 1,350 950 1,200 1,900 650 925 c. You have been asked to estimate the mean monthly rent for an apartment that has 2,500 square feet. Discuss how you would proceed and indicate your cautions. Select the correct choice below and, if necessary, fill in the answer box complete your answer. OA. The estimated mean monthly rent is 1,700 1,400 1,350 1,100 as long as b₁ is greater than 0. (Round to two decimal places as needed.) B. It is not appropriate for the linear regression equation to estimate this value, because the value is greater than standard deviations from the mean apartment size. OC. The correlation between an apartment's size and its monthly rent is too weak to use this model for such a prediction. D. It is not appropriate for the linear regression equation to estimate this value, because the value is outside the range of values given for apartment size.

An agent for a real estate company in a large city collected data on the sizes (x in square feet) and monthly rents (y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below, along with the linear regression equation. Complete parts a through c below. y₁ = 243.5 +0.957x; Monthly Rent ($) 950 1,600 825 1,450 1,950 Size (Square Feet) 750 1,350 950 1,200 1,900 650 925 c. You have been asked to estimate the mean monthly rent for an apartment that has 2,500 square feet. Discuss how you would proceed and indicate your cautions. Select the correct choice below and, if necessary, fill in the answer box complete your answer. OA. The estimated mean monthly rent is 1,700 1,400 1,350 1,100 as long as b₁ is greater than 0. (Round to two decimal places as needed.) B. It is not appropriate for the linear regression equation to estimate this value, because the value is greater than standard deviations from the mean apartment size. OC. The correlation between an apartment's size and its monthly rent is too weak to use this model for such a prediction. D. It is not appropriate for the linear regression equation to estimate this value, because the value is outside the range of values given for apartment size.

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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An agent for a real estate company in a large city collected data on the sizes (x in square feet) and monthly rents (y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below, along with the linear regression equation. Complete parts a through c below. y₁ = 243.5 +0.957x₁ Monthly Rent ($) 950 1,600 825 1,450 1,950 925 1,700 1,400 Size (Square Feet) 750 1,350 950 1,200 1,900 650 1,350 1,100 c. You have been asked to estimate the mean monthly rent for an apartment that has 2,500 square feet. Discuss how you would proceed and indicate your cautions. Select the correct choice below and, if necessary, fill in the answer box to complete your answer. A. The estimated mean monthly rent is as long as b₁ is greater than 0. (Round to two decimal places as needed.) B. It is not appropriate for the linear regression equation to estimate this value, because the value is greater than 2 standard deviations from the mean apartment size. C. The correlation between an apartment's size and its monthly rent is too weak to use this model for such a prediction. D. It is not appropriate for the linear regression equation to estimate this value, because the value is outside the range of values given for apartment size.
Transcribed Image Text:An agent for a real estate company in a large city collected data on the sizes (x in square feet) and monthly rents (y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below, along with the linear regression equation. Complete parts a through c below. y₁ = 243.5 +0.957x₁ Monthly Rent ($) 950 1,600 825 1,450 1,950 925 1,700 1,400 Size (Square Feet) 750 1,350 950 1,200 1,900 650 1,350 1,100 c. You have been asked to estimate the mean monthly rent for an apartment that has 2,500 square feet. Discuss how you would proceed and indicate your cautions. Select the correct choice below and, if necessary, fill in the answer box to complete your answer. A. The estimated mean monthly rent is as long as b₁ is greater than 0. (Round to two decimal places as needed.) B. It is not appropriate for the linear regression equation to estimate this value, because the value is greater than 2 standard deviations from the mean apartment size. C. The correlation between an apartment's size and its monthly rent is too weak to use this model for such a prediction. D. It is not appropriate for the linear regression equation to estimate this value, because the value is outside the range of values given for apartment size.
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