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 b, = 89.7175 and b, = 1.0703. Complete parts (a) through (d). Monthly Rent (S) Size (Square Feet) 900 1,450 850 1,500 2,000 900 1,825 1.300 O 850 1,350 950 1,200 1,900 700 1,350 1,050 a. Determine the coefficient of determination, , and interpret its meaning 2= 0.843 (Round to three decimal places as needed.) What is the meaning of ? O A. P measures the proportion of variation in apartment size that can be explained by the variation in monthly rent. O B. measures the proportion of variation in apartment size that cannot be explained by the variation in monthly rent. O C. * measures the proportion of variation in monthly rent that cannot be explained by the variation in apartment size. D. measures the proportion of variation in monthly rent that can be explained by the variation in apartment size. b. Determine the standard error of the estimate, Syx- Syx = (Round to three decimal places as needed.)
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 b, = 89.7175 and b, = 1.0703. Complete parts (a) through (d). Monthly Rent (S) Size (Square Feet) 900 1,450 850 1,500 2,000 900 1,825 1.300 O 850 1,350 950 1,200 1,900 700 1,350 1,050 a. Determine the coefficient of determination, , and interpret its meaning 2= 0.843 (Round to three decimal places as needed.) What is the meaning of ? O A. P measures the proportion of variation in apartment size that can be explained by the variation in monthly rent. O B. measures the proportion of variation in apartment size that cannot be explained by the variation in monthly rent. O C. * measures the proportion of variation in monthly rent that cannot be explained by the variation in apartment size. D. measures the proportion of variation in monthly rent that can be explained by the variation in apartment size. b. Determine the standard error of the estimate, Syx- Syx = (Round to three decimal places as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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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 b, = 89.7175 and b, = 1.0703. Complete parts (a) through (d).
Monthly Rent (S)
Size (Square Feet)
900 1,450
850
1,500 2,000 900
1,825 1,300 o
850
1,350
950
1,200 1,900 700
1.350 1.050
.....
a. Determine the coefficient of determination, r, and interpret its meaning.
2= 0.843 (Round to three decimal places as needed.)
What is the meaning of ?
O A. r measures the proportion of variation in apartment size that can be explained by the variation in monthly rent.
O B. r measures the proportion of variation in apartment size that cannot be explained by the variation in monthly rent.
O C. measures the proportion of variation in monthly rent that cannot be explained by the variation in apartment size.
OD. measures the proportion of variation in monthly rent that can be explained by the variation in apartment size.
b. Determine the standard error of the estimate, Syx.
Syx = (Round to three decimal places as needed.)
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