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An apartment rental company compiles information about the square footage and amount of rent per month for several apartments in a large city. All of the apartments in the sample are between 485 square feet and 1800 square feet. There is a strong, positive, and linear relationship between the square footage and amount of rent (in dollars) of these apartments.

The regression equation to predict the amount of rent based on square footage is as follows:

Predicted rent = [tex]-162 + 2.25(\text{square feet})[/tex]

From the above information, we can predict that an apartment that is 845 square feet will have rent per month of approximately:

A. $1007.00
B. $1901.25
C. $1739.25
D. $685.25
E. $2061.25

Answer :

The predicted rent per month for an apartment that is 845 square feet is approximately $1739.25. The correct answer is C. 1739.25.

To predict the rent per month for an apartment that is 845 square feet, we can use the given regression equation:

Predicted rent = -162 + 2.25(square feet)

Substituting the square footage value of 845 into the equation:

Predicted rent = -162 + 2.25(845)

Calculating the predicted rent:

Predicted rent = -162 + 1901.25

Predicted rent = 1739.25

Therefore, the predicted rent per month for an apartment that is 845 square feet is approximately $1739.25.

Hence, the correct answer is C. 1739.25.

Learn more about regression equation here:

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An apartment rental company compiles information about the square footage and amount of rent per month for several apartments in a large city. All of the apartments in the sample are between 485 square feet and 1800 square feet. There is a strong, positive, and linear relationship between the square footage and amount of rent (in dollars) of these apartments. The regression equation to predict amount of rent based on square footage is as follows: Predicted rent =−162+2.25 (square feet) From the above information, we can predict that an apartment that is 845 square feet will have rent per month of approximately dollars. A. 1007.00 B. 1901.25 C. 1739.25 D. 685.25 E. 2061.25

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