- An Agent For A Real Estate Company Wanted To Predict The Monthly Rent For Apartments Based On The Size Of The Apartment 1 (47.97 KiB) Viewed 24 times
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 at 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. B. Click the icon to view the data. a. Determine the hypotheses for the test. Choose the correct answer below. O A HORO H:A#0 0C, H, n = 0 HERMO OB. HA 1.50 H: 0.0 OD. HA B.20 H: 8,0 Find the test statistic STAT=(Round to two decimal places needed.) What is the p-value? p-value = (Round to three decimal places as needed.) Reach a decision. H). 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 50,30- (Round to four decimal places as needed.)
Size (square feet) 860 1,450 1,085 1,222 708 1,475 1,126 726 700 946 1,110 1,295 1,985 1,379 1,185 1,215 1,235 1,259 1,160 906 1,371 1,050 745 1,010 1,190 Rent ($) 1,975 2,600 2,200 2,475 1,975 2,725 2,675 1,945 1,875 2,175 2,425 2,650 3,300 2,825 2,375 2,450 2,075 2,725 2,200 2,175 2,625 2,625 2,200 1,775 2,775