Mathematics, 25.12.2020 22:40 Uwa
A real estate agent wishes to estimate the monthly rental for apartments based on the size (square feet) and location of the apartments. She chose the model y-Po + β1 x1 + β2 x2 + ε, where x1 represents the square footage of the apartment and 1 if located in town center X2 . This linear regression model was fitted to a sample 0 if not located in town center of size 50 to produce the regression equation below. Complete parts a through c y 175+ 1.2x1 +400x2 a. Predict the average monthly rent for an apartment located in the town center that has 1,750 square feet S(Simplify your answer.)b. Predict the average monthly rent for an apartment located in the suburbs that has 1,100 square feet. $ 1455 (Simplify your answer.) c. Interpret b, in the context of this exercise. Based on these data, and holding the constant, it is estimated that an apartment is worth $ more if it located in the town center.
Answers: 3
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A real estate agent wishes to estimate the monthly rental for apartments based on the size (square f...
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