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commercial division of a real estate firm is conducting a regression analysis of the relationship between , annual gross rents (in tho were collected on several properties recently sold and the following computer output was obtained. ANOVA Regression Residual Total Intercept Annual Gross df 1 7 8 Coefficients 20.000 7.280 SS MS F Sign 41587.5 51984.9 Standard Error tS 3.2213 1.3623 665

commercial division of a real estate firm is conducting a regression analysis of the relationship between , annual gross rents (in tho were collected on several properties recently sold and the following computer output was obtained. ANOVA Regression Residual Total Intercept Annual Gross df 1 7 8 Coefficients 20.000 7.280 SS MS F Sign 41587.5 51984.9 Standard Error tS 3.2213 1.3623 665

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section: Chapter Questions
Problem 22SGR
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The commercial division of a real estate firm is conducting a regression analysis of the relationship between , 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. a. How many apartment buildings were in the sample? X ANOVA What is the p-value? Use Table 4 of Appendix B. p-value is - Select your answer Regression Residual Total Intercept Annual Gross Rents b. Write the estimated regression equation (to 2 decimals if necessary). ŷ + c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance. What is the p-value? Use Table 2 of Appendix B. p-value is - Select your answer - What is your conclusion? - Select your answer - d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance. Compute the F test statistic (to 2 decimals). df 1 7 8 Coefficients 20.000 7.280 What is your conclusion? Select your answer - e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal). $ thousands. SS 41587.5 51984.9 MS F Standard Error 3.2213 1.3623 Significance F t Stat 6.21 5.29 P-value
Transcribed Image Text:The commercial division of a real estate firm is conducting a regression analysis of the relationship between , 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. a. How many apartment buildings were in the sample? X ANOVA What is the p-value? Use Table 4 of Appendix B. p-value is - Select your answer Regression Residual Total Intercept Annual Gross Rents b. Write the estimated regression equation (to 2 decimals if necessary). ŷ + c. Use the t statistic to test the significance of the relationship at a 0.05 level of significance. What is the p-value? Use Table 2 of Appendix B. p-value is - Select your answer - What is your conclusion? - Select your answer - d. Use the F statistic to test the significance of the relationship at a 0.05 level of significance. Compute the F test statistic (to 2 decimals). df 1 7 8 Coefficients 20.000 7.280 What is your conclusion? Select your answer - e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal). $ thousands. SS 41587.5 51984.9 MS F Standard Error 3.2213 1.3623 Significance F t Stat 6.21 5.29 P-value
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