Details of this Paper

An agent for a real estate company in a large city...

Description

Solution


Question

An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments based upon the size of the apartment as defined by square footage. A sample of 25 apartments in a particular residential neighborhood was selected and the information gathered revealed the following: Apartment Rent($) Size Apartment Rent Size 1 950 850 14 1,800 1369 2 1,600 1450 15 1,400 1175 3 1,200 1085 16 1,450 1225 4 1,500 1232 17 1,100 1245 5 950 718 18 1,700 1259 6 1,700 1485 19 1,200 1150 7 1,650 1136 20 1,150 896 8 935 726 21 1,600 1361 9 875 700 22 1,650 1040 10 1,150 956 23 1,200 755 11 1,400 1100 24 800 1000 12 1,650 1285 25 1,750 1200 13 2,300 1985 Use the least squares method to find the regression coefficients b0 and b1.

 

Paper#13275 | Written in 18-Jul-2015

Price : $25
SiteLock