The commercial division of a real estate firm is conducting a regression analysis of the relationship between x, annual gross rents (in thousands of dollars), and y, selling price (in thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. ANOVA df MS F Significance F Regression 1 41587.6 Residual 7 Total 8 51984.9 Coefficients Standard Error t Stat P-value Intercept 20.000 3.2213 6.21 Annual Gross 7.290 1.3625 5.29 Rents a. How many apartment buildings were in the sample? 9 b. Write the estimated regression equation (to 2 decimals if necessary). 20 + 7.29 z c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance. What is the p-value? Use Table 2 of Appendix B. p-value is less than 0.01 What is your conclusion? Conclude that the selling price is related to annual gross rents. d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance. Compute the F test statistic (to 2 decimals). 28.00 What is the p-value? Use Table 4 of Appendix B. p-value is less than 0.01 What is your conclusion? Conclude that the selling price is related to annual gross rents. e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal). $ 380.5 thousands.
The commercial division of a real estate firm is conducting a regression analysis of the relationship between x, annual gross rents (in thousands of dollars), and y, selling price (in thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. ANOVA df MS F Significance F Regression 1 41587.6 Residual 7 Total 8 51984.9 Coefficients Standard Error t Stat P-value Intercept 20.000 3.2213 6.21 Annual Gross 7.290 1.3625 5.29 Rents a. How many apartment buildings were in the sample? 9 b. Write the estimated regression equation (to 2 decimals if necessary). 20 + 7.29 z c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance. What is the p-value? Use Table 2 of Appendix B. p-value is less than 0.01 What is your conclusion? Conclude that the selling price is related to annual gross rents. d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance. Compute the F test statistic (to 2 decimals). 28.00 What is the p-value? Use Table 4 of Appendix B. p-value is less than 0.01 What is your conclusion? Conclude that the selling price is related to annual gross rents. e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal). $ 380.5 thousands.
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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I need help on d and e part thank u!
Transcribed Image Text:The commercial division of a real estate firm is conducting a regression analysis of the relationship between x, annual gross rents (in thousands of dollars), and y, selling price (in thousands of
dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained.
ANOVA
df
SS
MS
F
Significance F
Regression
1
41587.6
Residual
7
Total
8.
51984.9
Coefficients
Standard Error
t Stat
P-value
Intercept
20.000
3.2213
6.21
Annual Gross
7.290
1.3625
5.29
Rents
a. How many apartment buildings were in the sample?
b. Write the estimated regression equation (to 2 decimals if necessary).
20 +
7.29 x
c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance.
What is the p-value? Use Table 2 of Appendix B.
p-value is less than 0.01
What is your conclusion?
Conclude that the selling price is related to annual gross rents.
d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance.
Compute the F test statistic (to 2 decimals).
28.00
What is the p-value? Use Table 4 of Appendix B.
p-value is
less than 0.01
What is your conclusion?
Conclude that the selling price is related to annual gross rents.
e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal).
$
380.5 thousands.
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