citypopavgincpctsturent1777591956823.1703134221418653188520.984034963420992120224.3833514462092904439.3278458851103305630716.500592561326053510311.456586307833122940729.778425218877582682624.3590342291304742581114.5714956810847702107730.70308383111247732345327.2334644412457341428640.223934713635022296733.1800642214732332234620.3282763615606331839349.2899940316713051935322.1569332517471982463645.7964340418597382456539.3518441419656082290034.3067941520377122153132.4114339621406412004317.43559332222195312189813.3616735423958023314025.4316253824506772471963.2318445125802772320722.8596403261095923334432.9166456827488122400424.3567239928418822117420.7798130429691012205932.07768382301919722805615.4272537931621262364814.4899136632295412515255.38404493331010821773817.44623456341638602124214.465440935387193048939.66786489361366112435413.53185440372079513245114.0119547938449721220627.7283637439741112532616.1082735540494252545621.2321736741281762176651.0860339342288352146343.7350440143800712516522.1690836244366761850140.8223335445447572321235.46261385461126692536919.02919425476329102665111.6994542248389231825771.2098249049980522321617.65594392501651211992313.0837433251449222639418.244963885252456926259.5013428531862062413015.2100438154308721591732.35942346551035901785215.7428335356327622131228.1789932857868352116235.9716733658391272552325.4862449359403411859223.9384346960548441827612.7871831161258791802245.8673135562568562473518.7139435263510032194719.53022344641912622942023.31932472 Note: I only need help with problem #4 Question 2: Dataset "rent"Are rent rates influenced by the student population in a college town? Let rent be the averagemonthly rent paid on rental units in a college town in the United States. Let pop denote the totalcity population, gyginç the average city income, and pctstu the student population as a percent ofthe total population. One model to test for a relationship isrent = Bo + B1 · pop + B2 · avginc + B3 · pctstu + €1) State the null hypothesis that size of the student body relative to the population has noceteris paribus (ceteris paribus = everything else stays the same) effect on monthly rents.State the alternative that there is an effect.2) What signs do you expect for ß1 and B2?3) Estimate the above equation using the data and report the results.4) What is wrong with the statement: "A 10% increase in population is associated withabout a 6.6% increase in rent"?

Name: citypopavgincpctsturent1777591956823.1703134221418653188520.9840349634
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Description: citypopavgincpctsturent1777591956823.1703134221418653188520.984034963420992120224.3833514462092904439.3278458851103305630716.500592561326053510311.456586307833122940729.778425218877582682624.3590342291304742581114.5714956810847702107730.7030838311124

From the previous resultsThe equation obtained from the regression analysis isRent = 76.5 + 0.000013…

Answered: Question 2: Dataset "rent" Are rent…

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.4: Combining And Decomposing Functions

Problem 18E

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city	pop	avginc	pctstu	rent
1	77759	19568	23.17031	342
2	141865	31885	20.98403	496
3	42099	21202	24.383	351
4	46209	29044	39.32784	588
5	110330	56307	16.5005	925
6	132605	35103	11.45658	630
7	83312	29407	29.77842	521
8	87758	26826	24.35903	422
9	130474	25811	14.57149	568
10	84770	21077	30.70308	383
11	124773	23453	27.23346	444
12	45734	14286	40.2239	347
13	63502	22967	33.18006	422
14	73233	22346	20.32827	636
15	60633	18393	49.28999	403
16	71305	19353	22.15693	325
17	47198	24636	45.79643	404
18	59738	24565	39.35184	414
19	65608	22900	34.30679	415
20	37712	21531	32.41143	396
21	40641	20043	17.43559	332
22	219531	21898	13.36167	354
23	95802	33140	25.43162	538
24	50677	24719	63.23184	451
25	80277	23207	22.8596	403
26	109592	33344	32.91664	568
27	48812	24004	24.35672	399
28	41882	21174	20.77981	304
29	69101	22059	32.07768	382
30	191972	28056	15.42725	379
31	62126	23648	14.48991	366
32	29541	25152	55.38404	493
33	101082	17738	17.44623	456
34	163860	21242	14.4654	409
35	38719	30489	39.66786	489
36	136611	24354	13.53185	440
37	207951	32451	14.01195	479
38	44972	12206	27.72836	374
39	74111	25326	16.10827	355
40	49425	25456	21.23217	367
41	28176	21766	51.08603	393
42	28835	21463	43.73504	401
43	80071	25165	22.16908	362
44	36676	18501	40.82233	354
45	44757	23212	35.46261	385
46	112669	25369	19.02919	425
47	632910	26651	11.69945	422
48	38923	18257	71.20982	490
49	98052	23216	17.65594	392
50	165121	19923	13.08374	332
51	44922	26394	18.24496	388
52	52456	9262	59.5013	428
53	186206	24130	15.21004	381
54	30872	15917	32.35942	346
55	103590	17852	15.74283	353
56	32762	21312	28.17899	328
57	86835	21162	35.97167	336
58	39127	25523	25.48624	493
59	40341	18592	23.93843	469
60	54844	18276	12.78718	311
61	25879	18022	45.86731	355
62	56856	24735	18.71394	352
63	51003	21947	19.53022	344
64	191262	29420	23.31932	472

Note: I only need help with problem #4

Question 2: Dataset "rent"
Are rent rates influenced by the student population in a college town? Let rent be the average
monthly rent paid on rental units in a college town in the United States. Let pop denote the total
city population, gyginç the average city income, and pctstu the student population as a percent of
the total population. One model to test for a relationship is
rent = Bo + B1 · pop + B2 · avginc + B3 · pctstu + €
1) State the null hypothesis that size of the student body relative to the population has no
ceteris paribus (ceteris paribus = everything else stays the same) effect on monthly rents.
State the alternative that there is an effect.
2) What signs do you expect for ß1 and B2?
3) Estimate the above equation using the data and report the results.
4) What is wrong with the statement: "A 10% increase in population is associated with
about a 6.6% increase in rent"?

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