# An agent for a residential real estate company in a suburb located

An agent for a residential real estate company in a suburb located outside of Washington,DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal the agent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 48 apartments in a particular residential neighborhood and collects the following data:

Data for 13.9

 Size (Square feet) Rent (\$) 524 1110 616 1175 666 1190 830 1410 450 1210 550 1225 780 1480 815 1490 1070 1495 610 1680 835 1810 660 1625 590 1469 675 1395 744 1150 820 1140 912 1220 628 1434 645 1519 840 1105 800 1130 804 1250 950 1449 800 1168 787 1224 960 1391 750 1145 690 1093 840 1353 850 1530 965 1650 1060 1740 665 1235 775 1550 960 1545 827 1583 655 1575 535 1310 625 1195 749 1200 634 1185 641 1444 860 1385 740 1275 593 1050 880 1650 895 1340 692 1560

Use the least-squares method to determine the regression coefficients b0 and b1,,,

You may use Minitab/ Excel for all of your calculations for all the problems, but must attach the relevant output (Minitab or Excel);

b. Use the least-squares method to determine the regression coefficients b0 and b1

(550 words)

Approximate price: \$22

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