- An Agent For A Real Estate Company Wanted To Predict The Monthly Rent For Apartments Based On The Size Of The Apartment 1 (53.88 KiB) Viewed 21 times
Rent ($)
860
1,950
1,460
2,575
1,095
2,225
1,232
2,525
718
1,975
1,475
2,675
1,126
2,625
736
1,945
710
1,900
956
2,175
1,100
2,425
1,285
2,675
1,975
3,325
1,369
2,775
1,175
2,425
1,225
2,475
1,245
2,100
1,269
2,725
1,150
2,175
896
2,175
1,371
2,600
1,040
2,625
755
2,225
1,000
1,775
1,190
2,775
An agent for a real estate company wanted to predict the monthly rent for apartments based on the size of the apartment. The data for a sample of 25 apartments is available below. Perform a t test for the slope to determine if a significant linear relationship between the size and the rent exists. a. At the 0.05 level of significance, is there evidence of a linear relationship between the size of the apartment and the monthly rent? b. Construct a 95% confidence interval estimate of the population slope, Bi. Click the icon to view the data. . a. Determine the hypotheses for the test. Choose the correct answer below. O A. Ho: B,20 H: B<0 0 C. HỌ B, 50 H: B,> 0 OB. Ho: B = 0 H: Bo70 OD. Ho: B2 = 0 H:6,70 Find the test statistic. ESTAT = (Round to two decimal places as needed.) What is the p-value? p-value = (Round to three decimal places as needed.)
Reach a decision Ho. There is evidence to conclude that there is a linear relationship between the size of the apartment and the monthly rent b. The 95% confidence interval is so, s (Round to four decimal places as needed.)