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A real estate company in downtown Miami would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of 25 apartments in a particular residential neighborhood was chosen.
Construct a scatter plot of rent/size.
Find the equation of the least squares regression line that models the relationship between square footage and rental amount and interpret the meaning of the coefficients.
Predict the monthly rent for an apartment with 1000 square feet.
Explain why it would not be appropriate to use the model to predict the monthly rent for apartments that have 500 square feet.
You are considering signing a lease for an apartment in this residential neighborhood. You are deciding between two apartments, one with 1,000 square feet that rents for $1,275 and the other with 1,200 square fee that rents for $1,425. Which is a better deal? Explain.
Adriana Corporation manufactures football equipment. In planning for next year, the managers want to understand the relation between activity and overhead costs.
Psychologists once measured 77 variables on a sample of schizophrenic people and a sample of people who were not schizophrenic. They compared the two samples using 77 separate significance tests.
Deductible with a $580 premium. (A $Y deductible means the insurance company pays X - Y for X >= Y and X for X
The national average SAT score (for Verbal and Math) is 1028. Suppose that nothing is known about the shape of the distribution and that the standard deviation is 100. If a random sample of 200 scores were selected and the sample mean were calcula..
Compute a 90% confidence interval of the mean for a Weschler intellegence test with mean of 100.00 and standard deviation of 15.00 for a sample of 100 people. Use two decimal places.
Based on this, what is the probability that the mean weight of the bales in a sample of n=64 bales will be between 78 and 82 pounds?
If the top 15% of the test scores are usually good enough for admission to law school, find the cut off score for gaining admission.
The data studies the effect of dietary calcium on blood pressure. In the experiment, one group of black male adults received calcium supplements for 12 weeks.
Show that someone will think that the claim has more than a fifty percent chance of being true if p > q / (1 + q). Explain.
According to an internet posting, 80% of adults enjoy drinking beer. Choose a group of 3 adults at random. The probability that none of them enjoy drinking beer is:
Where should the warranty limits be set so that only 10% of the TVs need repairs at the manufacturer's expense?
Ffinding that the mean sodium content is 324 mg, with a standard deviation of 35 mg. Find a 95 % confidence interval for the mean sodium content of this brand of hotdog.
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