Reference no: EM131778481
Question 1 - The owner of a moving company would like to be able to predict the number of hours required to complete a move by using the number of cubic feet of items moved. He has collected data for 36 moves in which the origin and destination were within the city limits of Coral Gables and in which the travel time was an insignificant portion of the hours worked.
Q-1a: What is the slope of the least squares regression line? (Round to four decimals.)
Q-1b: What is the y-intercept of the least squares regression line? (Round to four decimals.)
Q-1c: Predict the number of hours required to complete a move involving 920 cubic feet of items moved. (Round to one decimal place.)
Summarize your findings
Question 2 - 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.
Q-2a: Construct a scatter plot of rent/size.
Q-2b: 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.
Q-2c: Predict the monthly rent for an apartment with 1000 square feet.
Q-2d: Explain why it would not be appropriate to use the model to predict the monthly rent for apartments that have 500 square feet.
Q-2e: 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.
Attachment:- Assignment File.rar