?Rents in New York The data in Problem 3 represent the square footage and rent for apartments in the borough of Queens and Nassau County, New York.
Chapter 14, Problem 9(choose chapter or problem)
Rents in New York The data in Problem 3 represent the square footage and rent for apartments in the borough of Queens and Nassau County, New York.
(a) On the same graph, draw a scatter diagram for both Queens and Nassau County apartments treating square footage asthe explanatory variable, but use a different plotting symbol for Queens and Nassau County.
(b) Find the least-squares regression equation y = b0 + b1x1 + b2x2, where x1 is square footage and x2 = 0 for Queens and x2 = 1 for Nassau County.
(c) Test the hypotheses H0: 1 =
2 = 0 versus H1: at least one of the
i ≠ 0 at the
= 0.05 level of significance.
(d) Test the hypothesis H0: 2 = 0 versus H1:
2 ≠ 0 at the
= 0.05 level of significance. What does this say about the role of location in rents in New York?
(e) Construct a 95% confidence interval for a 950-square-foot apartment in Queens.
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