how to I solve a using single linear Regression in excel or any excel method? I am struggling to understand this question. Can please be very detailed about it, how you were able to do so and what you used to get these answers. I struggle to understand how to answer to this question below. 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. The agent 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 30 one-bedroom apartments. a. Construct a 95% confidence interval estimate of the mea
how to I solve a using single linear Regression in excel or any excel method? I am struggling to understand this question. Can please be very detailed about it, how you were able to do so and what you used to get these answers. I struggle to understand how to answer to this question below. 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. The agent 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 30 one-bedroom apartments. a. Construct a 95% confidence interval estimate of the mea
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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how to I solve a using single linear Regression in excel or any excel method? I am struggling to understand this question. Can please be very detailed about it, how you were able to do so and what you used to get these answers. I struggle to understand how to answer to this question below.
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. The agent 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 30 one-bedroom apartments.
a. Construct a 95% confidence interval estimate of the mean monthly rental for all one-bedroom apartments that are 810 square feet in size.
______≤μY|X=810≤_____
(Type integers or decimals. Round to two decimal places as needed. Use ascending order.)
Transcribed Image Text:Apartment
Size (sq feet)
Rent ($)
1
516
1118
2
621
1187
3
664
1176
4
842
1410
450
1225
6.
542
1213
7
767
1482
8
816
1504
1087
1507
10
605
1671
11
835
1822
12
672
1624
13
597
1458
14
669
1399
15
747
1136
16
815
1126
17
928
1219
18
632
1421
19
647
1509
20
857
1116
21
815
1123
22
820
1252
23
966
1455
24
816
1159
25
803
1226
26
949
1390
27
742
1147
28
699
1095
29
855
1349
30
850
1515
Expert Solution
Step 1
Formula:
Let X be the size and Y be the rent.
Excel Procedure:
- Enter X and Y data in Excel
- Go to Data
- Click on Data Analysis> ‘Regression’.
- Select Y under ‘Input Y Range’.
- Select X under ‘Input X Range’.
- Click on ‘OK’.
Output:
From the given output,
Y=1190.5987+0.1908X.
X=180 square feet
Y^=1190.5987+(0.1908*180)=1224.943
Step by step
Solved in 2 steps with 3 images
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