Q.3. A rental management executive has collected data on square footage and monthly rentalfee for 12 apartments in his city. Considering square footage as the independent variable andmonthly rental fee as the dependent variable: The data is given below.(14 points)Squarefootage3714912101415 8111310|Monthly2.653.213.0| 4.21 2.76 3.43 42.22 2.88 2.953.562.98rental feea. Generate a scatter diagram that includes the best-fit linear equation for these data.b. Does there appear to be any relationship between the variables? If so, is the relationshipdirect or inverse?c. Interpret the slope of the equation generated in part (a).d. Viewing the scatter diagram and equation in part (a), do you think there are any apartmentsthat seem to have an unusually high or an unusually low rental fee compared to what would bepredicted for an apartment of their size? Are there any variables that are not included in the datathat might help explain such a differential? If so, what might they be?

Q.3. A rental management executive has collected data on square footage and monthly rental fee for 12 apartments in his city. Considering square footage as the independent variable and monthly rental fee as the dependent variable: The data is given below. (14 points) Square footage 37 14 9 12 10 14 15 8 11 9 13 10 Monthly 2.65 3.21 3.0 4.21 2.76 3.43 4 2.22 2.88 2.95 3.56 2.98 rental fee

Q.3. A rental management executive has collected data on square footage and monthly rental fee for 12 apartments in his city. Considering square footage as the independent variable and monthly rental fee as the dependent variable: The data is given below. (14 points) Square footage 37 14 9 12 10 14 15 8 11 9 13 10 Monthly 2.65 3.21 3.0 4.21 2.76 3.43 4 2.22 2.88 2.95 3.56 2.98 rental fee

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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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

Q.3. A rental management executive has collected data on square footage and monthly rental
fee for 12 apartments in his city. Considering square footage as the independent variable and
monthly rental fee as the dependent variable: The data is given below.
(14 points)
Square
footage
37
14
9
12
10
14
15 8
11
13
10
|Monthly
2.65
3.21
3.0
| 4.21 2.76 3.43 4
2.22 2.88 2.95
3.56
2.98
rental fee
a. Generate a scatter diagram that includes the best-fit linear equation for these data.
b. Does there appear to be any relationship between the variables? If so, is the relationship
direct or inverse?
c. Interpret the slope of the equation generated in part (a).
d. Viewing the scatter diagram and equation in part (a), do you think there are any apartments
that seem to have an unusually high or an unusually low rental fee compared to what would be
predicted for an apartment of their size? Are there any variables that are not included in the data
that might help explain such a differential? If so, what might they be?

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