By applying this scenario, help her regress the quantity demanded of her apartments on price, advertising, and distance datasets
Jasmine owns 12 apartment buildings in a college town, which it rents exclusively to students. Each apartment building contains 120 rental units, but the owner is having cash flow problems due to an average vacancy rate of nearly 50 percent. The apartments in each building have comparable floor plans, but some buildings are closer to campus than others. Jasmine’s accumulated data from last year on the number of apartments rented, the rental price (in dollars), and the amount spent on advertising (in hundreds of dollars) at each of the 12 apartments are available below. These data, along with the distance (in miles) from each apartment building to campus, are presented below. Jasmine is looking for expert advice on the available data to inform administrative and business policy. By applying this scenario, help her regress the quantity demanded of her apartments on price, advertising, and distance datasets by using Excel or SPSS.
|
Observation or (Number of Apartments) |
Quantity |
Price |
Advertising |
Distance |
|
1 |
28 |
250 |
11 |
12 |
|
2 |
70 |
400 |
24 |
6 |
|
3 |
43 |
450 |
15 |
6 |
|
4 |
32 |
550 |
31 |
8 |
|
5 |
42 |
576 |
34 |
8 |
|
6 |
73 |
376 |
23 |
5 |
|
7 |
66 |
375 |
13 |
5 |
|
8 |
49 |
450 |
24 |
7 |
|
9 |
70 |
400 |
22 |
6 |
|
10 |
60 |
375 |
10 |
5 |
|
11 |
70 |
400 |
22 |
7 |
|
12 |
60 |
375 |
10 |
5 |
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
