The commercial division of a real estate firm is conducting a regression analysis of the relationship between X , annual gross rents (in thousands of dollars), and y , selling price (in thousands of...

The commercial division of a real estate firm is conducting a regression analysis of the relationship between
X
, annual gross rents (in thousands of dollars), andy , selling price (in thousands of dollars) for apartment buildings. Data were collected on several properties recently sold and the following computer output was obtained.

a.How many apartment buildings were in the sample?

b.Write the estimated regression equation (to 2 decimals if necessary).

c.Use the
t
statistic to test the significance of the relationship at a.05
level of significance.

What is thep-value? Use Table 1 of Appendix B.

p-value is - Select your answer -less than .01between .01 and .025between .025 and .05between .05 and .10greater than .10Item 4

What is your conclusion?

- Select your answer -Cannot conclude that the selling price is related to annual gross rents.Conclude that the selling price is related to annual gross rents.Item 5

d.Use theF statistic to test the significance of the relationship at a.05 level of significance.

Compute the
F
test statistic (to 2 decimals).

What is theP-value?

P-value is - Select your answer -less than .01between .01 and .025between .025 and .05between .05 and .10greater than .10Item 7

What is your conclusion?

- Select your answer -Cannot conclude that the selling price is related to annual gross rents.Conclude that the selling price is related to annual gross rents.Item 8

e.Predict the selling price of an apartment building with gross annual rents
$60,000
of  (to 1 decimal).

$  thousands.