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    Regression Analysis and t test for correlation coefficient

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    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.At the .05 level of significance determine if the correlation between rental cost and apartment size is significant?
    Rent Size
    950 850
    1600 1450
    1200 1085
    1500 1232
    950 718
    1700 1485
    1650 1136
    935 726
    875 700
    1150 956
    1400 1100
    1650 1285
    2300 1985
    1800 1369
    1400 1175
    1450 1225
    1100 1245
    1700 1259
    1200 1150
    1150 896
    1600 1361
    1650 1040
    1200 755
    800 1000
    1750 1200

    Also, given the above data, find the estimated regression equation which can be used to estimate the monthly rent for an apartment in this neighborhood using size as the predictor variable?

    Also, find a point estimate for the average monthly rent for apartments having 1,000 square feet?

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    https://brainmass.com/statistics/regression-analysis/regression-analysis-and-t-test-for-correlation-coefficient-265098

    Solution Summary

    The solution provides step by step method for the calculation of test statistic for significance of correlation coefficient. The solution also provides step by step method for the calculation of regression equations. Formula for the calculation and Interpretations of the results are also included.

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