13) The commercial division of a real estate firm is conducting a regression analysis of the relationship between gross rents (X) and selling price (Y) for apartment building. Data have been collected on several properties recently sold, and the following output has been obtained in computer run.
a. How many apartment buildings were in the sample
b. Write the estimated regression equation
c. What's the sample regression coefficients of b0
d. What's the sample regression coefficients of b1
e. What's the value of the estimated variance of the regression
f. What's the value of the standard error of the regression
g. What's the value of the estimated variance of the b1
h. What's the value of the standard error of the b1
i. Is the result significant when using F statistic to test the significant of the relationship at a 0.05 level of significance.
j. Estimate the selling price of an apartment building with gross annual rent of $50,000
14) A metropolitan bus system sampler's rider counts on one of its express commuter routes for a week. Use the following data to establish whether rider ship is evenly balanced by day of the week. Let a = 0.05.
Day Monday Tuesday Wednesday Thursday Friday
Rider Count 10 34 21 57 44
1. Is the pi^2 value significant at 5% level of significant?
2. Write the conclusion for this question
This solution addresses the two questions on regression by calculating the regression equation from data provided and determining variables like standard error, variance, significance and regression coefficients.