determine the coefficient of determination,r2, and interpret its meaning.

In Problem 12.9 on page 424, an agent for a real estate company wanted to predict the monthly rent for one bedroom apartments, based on the size of the apartment (stored inRent-SilverSpring). Using the results of that problem,

A.determine the coefficient of determination,r2, and interpret its meaning.

B.determine the standard error of the estimate.

C.How useful do you think this regression model is for predictingthe monthly rent?

D.Can you think of other variables that might explain the variation in monthly rent?

 

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