#### Details of this Paper

##### An agent for a residential real estate company in...

Description

Solution

Question

An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost of apartments based on the size of the apartment. Data for a sample of 25 apartments in a particular neighborhood are provided in the worksheet Apartments in the Excel workbook data.xls. At the .05 level of significance determine if the correlation between rental cost and apartment size is significant. A. No, there is not a statistically significant linear relationship between monthly rental cost and apartment size, because the sample correlation coefficient is less than .95. B. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the p-value for this test is less than .0001. C. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the t-test value, 7.74, is greater than the critical value 1.96. D. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the sample correlation coefficient 0.85 exceeds 0.50.

Paper#11539 | Written in 18-Jul-2015

Price : \$25