Coefficients Standard Error Stat ercept 0 82 0.18 4.56 footage 061 0.23 2.65 0.34 0.11 3.09 bedrooms -0.0095 3.7 -2.57 uilding age 0.28 0.15 1.87 ocation Write an equation that can be used to predict the rent of an apartment. According to this model, the rent of an apartment is expected to be how many dollars higher /lower if it is within 5 minutes of publjc transport, everything else beung ngua e If an apartment has a surface of 2000 sq. ft., 3 bedrooms, is in a 20 year old building within 5 minutes walk of public transport, what is the estimanted rent"

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stion 36
A real estate agent collected information on the rents of 50 apartments (in $1000) as well as their Sq. footage (in thousands of sq ft), number of bedrooms, building age
S within 5-mınute walk to public transport, 0 otherwise) You are given below the Excel ouput of the multiple regression model.
Regression Statistics
Multiple R
0.85
R Square
0.72
Adjusted R Square
0.68
Standard Error
0.25
Observations
50
Coefficients
Standard Error
Stat
0 82
0.18
4.56
Intercept
0.23
2.65
061
Sq footage
0.11
3.09
034
bedrooms
3.7
-2.57
.0 0095
Buiding age
0.15
187
0 28
Location
Yola Software Ca.
Transcribed Image Text:estion Completion Status: AMoving to another question will save this response stion 36 A real estate agent collected information on the rents of 50 apartments (in $1000) as well as their Sq. footage (in thousands of sq ft), number of bedrooms, building age S within 5-mınute walk to public transport, 0 otherwise) You are given below the Excel ouput of the multiple regression model. Regression Statistics Multiple R 0.85 R Square 0.72 Adjusted R Square 0.68 Standard Error 0.25 Observations 50 Coefficients Standard Error Stat 0 82 0.18 4.56 Intercept 0.23 2.65 061 Sq footage 0.11 3.09 034 bedrooms 3.7 -2.57 .0 0095 Buiding age 0.15 187 0 28 Location Yola Software Ca.
servations
50
Coefficients
Standard Error
Stat
082
0.18
mercept
4.56
footage
061
0.23
2.65
0.34
0.11
3.09
bedrooms
-0 0095
3.7
-2.57
Building age
0.28
0.15
1.87
Location
a Write an equation that can be used to predict the rent of an apartment.
b According to this model, the rent of an apartment is expected to be how many dollars higher /lower if it is withun 5 minutes of public transport, everything else being equal
e lf an apartment has a surface of 2000 sq. ft., 3 bedrooms, is in a 20 year old building within 5 minutes walk of public transport, what is the estimated rent"
d. Provide a 95% confidence interval for the rent estimate in part c.
e. Determine if the building age is a significant variable ((Yes/No)
3 (12pt)
v T-E -E
TTT Anal
YoG Software Ca.
Transcribed Image Text:servations 50 Coefficients Standard Error Stat 082 0.18 mercept 4.56 footage 061 0.23 2.65 0.34 0.11 3.09 bedrooms -0 0095 3.7 -2.57 Building age 0.28 0.15 1.87 Location a Write an equation that can be used to predict the rent of an apartment. b According to this model, the rent of an apartment is expected to be how many dollars higher /lower if it is withun 5 minutes of public transport, everything else being equal e lf an apartment has a surface of 2000 sq. ft., 3 bedrooms, is in a 20 year old building within 5 minutes walk of public transport, what is the estimated rent" d. Provide a 95% confidence interval for the rent estimate in part c. e. Determine if the building age is a significant variable ((Yes/No) 3 (12pt) v T-E -E TTT Anal YoG Software Ca.
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