The rental of an apartment (R) near campus is a function of the square footage (Sq). A random sample of apartments near campus yielded the following summary statistics: R= $350, Sq = 100, 8R = $ 30, and $ 54 = 10. Suppose also that the correlation between price and weight is 0.8. (a) Write the implied least squares linear regression equation. (b) Suppose an apartment has 75 sqft. Predict its price based on the above model. (c) Suppose the true rental of the apartment in part (b) is $ 325. What is the value of the residual?

The rental of an apartment (R) near campus is a function of the square footage (Sq). A random sample of apartments near campus yielded the following summary statistics: R= $350, Sq = 100, 8R = $ 30, and $ 54 = 10. Suppose also that the correlation between price and weight is 0.8. (a) Write the implied least squares linear regression equation. (b) Suppose an apartment has 75 sqft. Predict its price based on the above model. (c) Suppose the true rental of the apartment in part (b) is $ 325. What is the value of the residual?

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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