An agent for a real estate company in a large city collected
An agent for a real estate company in a large city collected data on the sizes (X in square feet) and monthly rents (Y in dollars) of a sample of eight apartments in a neighborhood. The data is shown below. Complete parts (a) through (f) below. What do b_0 and b_1 mean in this problem? Predict the mean monthly rent for an apartment that has 1,000 square feet.
Solution
