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##### In the Spring of 2013, data was collected for 30 randomly selected apartments

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Question;In the Spring of 2013, data was collected for 30 randomly;selected apartments in the San Diego area in an attempt to determine the major;determinants of rent prices. The group;collecting the data believe that rent price is determined by apartment size in;square feet, existence of a tennis court(s) in the complex and the existence of gated security for the;complex. Complete the following steps;1. Use Excel to construct an (xy) scatterplot for y=Rent;versus x=Square Feet. Put the scatterplot in a new worksheet. Be sure to;provide a meaningful title and informative axis labels. (3 points);2. Regress the dependent variable rent on the independent;variables square feet, tennis court, gated security. Put your regression output;in the designated area of the worksheet "Data." Use the regression output to answer questions;a - e below;a. Type the estimated regression function. (3 points);y-hat = estimated;monthly rent = 84.4046 + 0.5979x1 +;128.0504x2 + 49.7684x3;b. What percentage of the total variability in monthly rent;is explained by the variability in the square feet, tennis court(s) and gated;security variables? (3 points) 49.87%;c. What is the observed significance level of the estimated;regression model? (3 points) The observed significance level is;0.0000974851100791014. As the p-value is much less than o.o5 (0.0000975;0.05), there is a significant relationship between the variables in the linear;regression model of the data.;d. For the given sample of apartments, what is the average;value of an additional square foot of;apartment space? (3 points) \$59.79;e. What value from the printout measures the observed level;of significance for the variable "gated security", in the regression;model?(3 points);Apartment;1;2;3;4;5;6;7;8;9;10;11;12;13;14;15;16;17;18;19;20;21;22;23;24;25;26;27;28;29;30;Rent;\$724;\$900;\$1,247;\$1,172;\$810;\$1,150;\$700;\$730;\$746;\$890;\$725;\$569;\$680;\$1,020;\$750;\$649;\$1,135;\$720;\$560;\$600;\$859;\$790;\$1,225;\$1,035;\$749;\$832;\$1,003;\$1,565;\$1,095;\$990;SquareFeet;844;1097;1100;1111;908;1540;785;1100;1005;1220;879;640;1280;1544;1185;706;1000;1240;828;1050;880;860;1650;1390;1145;1215;1214;1700;1384;980;Tennis Court;0;0;1;1;1;1;1;1;0;0;1;1;0;1;1;1;1;1;1;0;1;1;1;1;1;1;1;1;1;1;GatedSecurity;1;1;1;1;0;0;1;1;0;0;1;1;1;0;0;0;0;1;1;0;1;1;1;1;0;1;1;1;1;1

Paper#56707 | Written in 18-Jul-2015

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