of dollars), and y, selling price Gin The commercial division of a real estate f
ID: 2907406 • Letter: O
Question
of dollars), and y, selling price Gin The commercial division of a real estate firm is conducting a regression analysis of the relationship between x, annual gross rents (n thousands obtained. thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the folloning computer output was The regression equation is Y 20.0 7.26 X Predictor Constant Coof SE Coef T 20.000 3.2213 621 7.260 1,36275.29 Analysis of Variance SOURCE Regression Residual Error Total DF sS 1 41,587.8 51,984 a. How many apartment buildings were in the sample? b. Write the estimated regression equation (to 2 decimals it necessary)Explanation / Answer
a)number of apartments =8+1=9
b)
yhat=20+7.26x
c)
value of sb1=1.3627
d)
SS(error)=51984.9-41587.8=10397.1
F test statistic =MS(regression)/MS(error)=(41587.8/1)/(10397.1/7)=28.00
p value =0.0011
e)
selling price =20+7.26*60=455.6 thousands
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