The commercial division of a real estate firm is conducting a regression analysi

Question

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.

The regression equation is Y =20.0 + 7.24 X Predictor Constant Coef 20.000 7.240 SE Coef T 3.2213 6.21 1.36295.29 Analysis of Variance SOURCE Regression Residual Error Total DF 41,587,7 51,984.1 a. How many apartment buildings were in the sample? b. Write the estimated regression equation (to 2 decimals if necessary) c. What is the value of sbr (to 4 decimals)? d. Use the F statistic to test the significance of the relationship at a .05 level of significance Compute the Ftest statistic (to 2 decimals). What is the p-value? p-value is Select What is your conclusion? Select e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal) thousands

Explanation / Answer

The answers for the given parts will be:

a) 9

b) y = 20 + 7.240 x

c) 1.3629

d) 28.00

e) 0.0011

f) Reject Ho

e) 382

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