The following data gives the annual rent per square foot for office space (X in $) and the associated occupancy rate (Y as a %).
Please Use Minitab
1. Generate a scatterplot for Occupancy Rate (Y) vs. Rent per Sq. Ft. (X). Send this graph to me via email.
2. State the equation of the best fit line. State and interpret the values of bo and b1.
3. Generate the graph of the best fit line over the scatterplot. Send this graph to me via email.
4. State the correlation and interpret this value.
5. State the index of determination and interpret this value.
6. Find the 95% confidence interval for the population slope (beta-1). Interpret this interval.
7. Does the data provide significant evidence (alpha=.05) that the occupancy rate is associated with the rent per square foot? Test the utility of this model using a two tailed test. Find the observed p-value and interpret.
Step by step method for computing test statistic for One way ANOVA is given in the answer.