a. How many apartment buildings were in the sample? b. Write the estimated regression equation (to 2 decimals if necessary). 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 - Select your answer - What is your conclusion? Select your answer - 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). What is the p-value? Use Table 4 of Appendix B. p-value is - Select your answer What is your conclusion? |- Select your answer - e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 4GP
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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)
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.
41587.2
Residual
7
Total
8
51984.7
Coefficients
Standard Error
t Stat
p-value
Intercept
20.000
3.2213
6.21
Annual Gross
7.280
1.3621
5.29
Rents
a. How many apartment buildings were in the sample?
b. Write the estimated regression equation (to 2 decimals if necessary).
=
+
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 - Select your answer
What is your conclusion?
Select your answer -
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).
What is the p-value? Use Table 4 of Appendix B.
p-value is - Select your answer -
What is your conclusion?
Select your answer -
e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal).
thousands.
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) 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. 41587.2 Residual 7 Total 8 51984.7 Coefficients Standard Error t Stat p-value Intercept 20.000 3.2213 6.21 Annual Gross 7.280 1.3621 5.29 Rents a. How many apartment buildings were in the sample? b. Write the estimated regression equation (to 2 decimals if necessary). = + 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 - Select your answer What is your conclusion? Select your answer - 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). What is the p-value? Use Table 4 of Appendix B. p-value is - Select your answer - What is your conclusion? Select your answer - e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal). thousands.
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