The commercial division of a real estate firm conducted a studyto determine the extent of the relationship between annual grossrents ($1000s) and the selling price ($1000s) for apartmentbuildings. Data were collected on several properties sold. The datais...
| df | SS | MS | F | Significance F |
| Regression | 1 | 41976.4 | | | |
| Residual | 7 | | | | |
| Total | 8 | 52373.2 | | | |
| | | | | |
| Coefficients | Standard Error | t Stat | P-value | |
| Intercept | 19 | 3.2213 | 6.21 | | |
| Annual Gross Income | 7.75 | 1.457806668 | 5.31620562 | | |
(a) How many apartments are there?
(b) Write the estimated regression equation
(c) Use the t-test to determine whether the selling price isrelated to annual gross rents. Use a=0.05
(d) Use the f-test to determine whether the selling price isrelated to annual gross rents. Use a=0.05
(e) Predict the selling price of an apartment building with grossannual rents of $52500
