eedRental property dataRental ($)BedroomsAgeBlocks800315313002113160092.52500182.528004112.533004102.5380024700263004131.5910040.5 A realty company would like to develop a regression model to help it set weekly rentai rates for beach properties (y). The independent variables for this model arethe number of bedrooms a property has (x). its age (x2), and the number of biocks away from the ocean it is (x). Use the accompanying data to completeparts a through e below.E Click the icon to view the rental property data.a) Using technology, construct a regression model using all three independent variables.-(8992 6) (295.6)x + (41.7) x2 + (-3146.3) x(Round to one decimal place as needed.)b) Test the significance of each independent variable using a= 0.05.Test the significance of x. Identify the null and alternative hypotheses.Ho: , = 0H: B, 0(Type integers or decimals.)Calculate the appropriate test statistic.The test statistic is 1.24(Round to two decimal places as needed.)Determine the appropriate critical value(s) for a0.05.The critical value(s) is(are)(Round to two decimal places as needed. Use a comma to separate answers as needed.)

Answered: Image /qna-images/answer/96f14819-96f8-465b-9caa-0ff740458d9a.jpg

Answered: Rental ($) Bedrooms Age Blocks 800 3 15…

Rental ($) Bedrooms Age Blocks 800 3 15 1300 2 11 1600 2.5 2500 18 2.5 2800 4. 11 2.5 3300 4 10 2.5 3800 2 4700 2 6300 4 13 1.5 9100 0.5

Algebra and Trigonometry (MindTap Course List)

4th Edition

ISBN:9781305071742

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.FOM: Focus On Modeling: Fitting Lines To Data

Problem 12P: Demand for Candy Bars In this problem you will determine a linear demand equation that describes the...

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Question

eed
Rental property data
Rental ($)
Bedrooms
Age
Blocks
800
3
15
3
1300
2
11
3
1600
9
2.5
2500
18
2.5
2800
4
11
2.5
3300
4
10
2.5
3800
2
4700
2
6300
4
13
1.5
9100
4
0.5

A realty company would like to develop a regression model to help it set weekly rentai rates for beach properties (y). The independent variables for this model are
the number of bedrooms a property has (x). its age (x2), and the number of biocks away from the ocean it is (x). Use the accompanying data to complete
parts a through e below.
E Click the icon to view the rental property data.
a) Using technology, construct a regression model using all three independent variables.
-(8992 6) (295.6)x + (41.7) x2 + (-3146.3) x
(Round to one decimal place as needed.)
b) Test the significance of each independent variable using a= 0.05.
Test the significance of x. Identify the null and alternative hypotheses.
Ho: , = 0
H: B, 0
(Type integers or decimals.)
Calculate the appropriate test statistic.
The test statistic is 1.24
(Round to two decimal places as needed.)
Determine the appropriate critical value(s) for a0.05.
The critical value(s) is(are)
(Round to two decimal places as needed. Use a comma to separate answers as needed.)

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