An agent for a residential real estate company in a large city would like to be able to predict the
Question: An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartments, as defined by square footage. A sample of 25 apartments (stored in the table below) in a particular residential neighborhood was selected, and the information gathered revealed the following.
Why would it not be appropriate to use the model to predict the monthly rent for apartment that have 500 square feet.
Apartment Monthly Rent ($) Size (square feet)
| 1 | 950 | 850 |
| 2 | 1600 | 1450 |
| 3 | 1200 | 1085 |
| 4 | 1500 | 1232 |
| 5 | 950 | 718 |
| 6 | 1700 | 1485 |
| 7 | 1650 | 1136 |
| 8 | 935 | 726 |
| 9 | 875 | 700 |
| 10 | 1150 | 956 |
| 11 | 1400 | 1100 |
| 12 | 1650 | 1285 |
| 13 | 2300 | 1985 |
| 14 | 1800 | 1369 |
| 15 | 1400 | 1175 |
| 16 | 1450 | 1225 |
| 17 | 1100 | 1245 |
| 18 | 1700 | 1259 |
| 19 | 1200 | 1150 |
| 20 | 1150 | 896 |
| 21 | 1600 | 1361 |
| 22 | 1650 | 1040 |
| 23 | 1200 | 755 |
| 24 | 800 | 1000 |
| 25 | 1750 | 1200 |
Price: $2.99
Answer: The solution consists of 2 pages
Deliverable: Word Document
Deliverable: Word Document
