An agent for a real estate company in a suburb has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Theagent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent collects data from a sample of 30one-bedroom apartments.a. Construct a 90% confidence interval estimate of the mean monthly rental for all one-bedroom apartments that are 814 square feet in size.OSHYIX = 814 O(Type integers or decimals. Round to two decimal places as needed. Use ascending order.) 1 Apartment Size (sq feet) Rent ($)11032.1.52261811753.66711885.48201415443122255312138.77114768191494106.10561492111061816721211841179413126571636141358914541514673138216157511143171681411331817897122219186401450201964615192120827111522218041125232280912462423939146225247841175262577812382726961139128277511146292870210903029827134931308501514322.6.4.

The data shows the size of an apartment and monthly rental cost.

Answered: An agent for a real estate company in a…

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 residential real estate company in a large city 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 25 apartments in a particular residential neighborhood and collects the following data: Size (square feet) Rent ($) 850 1950 1450 2600 1085 2200 1232 2500 718 1950 1485 2700 1136 2650 726 1935 700 1875 956 2150 1100 2400 1285 2650 1985 3300 1369 2800 1175 2400 1225 2450 1245 2100 1259 2700 1150 2200 896 2150 1361 2600 1040 2650 755 2200 1000 1800 1200 2750 (a) Determine the coefficient of determination, r2, and interpret its meaning. (b) Determine the standard error of the estimate (Syx).…
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