Business, 31.03.2020 16:22 miranda3837

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 , 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 + 7.28 X

Predictor Coef SE Coef T
Constant 20.000 3.2213 6.21
X 7.280 1.3622 5.29

Analysis of Variance
SOURCE DF SS
Regression 1 41,587.2
Residual Error 7
Total 8 51,984.6

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 sb1 (to 4 decimals)?
d. Use the F statistic to test the significance of the relationship at a .05 level of significance. Compute the F test statistic (to 2 decimals).
e. Predict the selling price of an apartment building with gross annual rents of $50,000 (to 1 decimal).

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