Screen Shot 2018-04-05 at 9.24.45 PM The commercial division of a real estate fi

Question

Screen Shot 2018-04-05 at 9.24.45 PM 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) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained. 40. Analysis of Variance DF 1 Adj ss 41587.3 SOURCE Regression Error Total 8 51984.1 Predictor Coef SE Coef T-Value constant 20.000 3.2213 1.3626 6.21 5.29 7.210 Regression Equation Y20.0 7.21 X a. b. How many apartment buildings were in the sample? Write the estimated regression equation.

Explanation / Answer

Solution :

a) How many apartment building were there in sample : 7

b) Write the estimated regression equation : Y = B0 * B1 X1

c) What is the value fo SB : 51984.1

d) More info is required to answer the question

e) Rent = 50000

equation = Y = 20.0 + 7.21* 50000

=360520

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