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.

1. Is the pi^2 value significant at 5% level of significant?
2. Write the conclusion for this question

Solution Summary

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.

Regression Equation and Coefficient of Determination. When is a regression equation used? What terms describe the fit of a regression equation to the data? ...

... is the square of the coefficient of correlation. ...Coefficients Standard Error t Stat P-value Lower 95 ... To obtain the regression equation we use the Regression...

... the regression equation (ie, the estimated model)? Provide an interpretation of the coefficients (intercept and slope). What is the value of the coefficient of ...

... a. Determine the regression equation. ... ANOVA df SS MS F Significance F Regression 1 13.74 13.74 ...Coefficients Standard Error t Stat P-value Lower 95% Upper 95 ...

... c. Calculate two correlation coefficients in SPSS: 1) the correlation ... x2, use SPSS to create the multiple regression prediction equation based on ...

... The coefficient of determination tells us that 83.2% of the variability in ... into the equations below to get the coefficients for the regression equation. ...

... that John Smith, the manager of the marketing division of Chevrolet at GM, estimated the following regression equation for Chevrolet ...Coefficient of Pc is -100. ...

... c. Interpret the meaning of the slope, b1, in the regression equation. ... the dependent variable for this problem) e. Compute the coefficient of determination, r2 ...

... steps on calculating and interpreting coefficients for both simple and multiple regressions. ... 20 is taken and the following regression equation is obtained ...