High School

The square footage and monthly rental of 8 similar two-bedroom apartments yield the linear regression formula [tex]y = 1.165x + 615.23[/tex], where [tex]x[/tex] represents the square footage of the apartment and [tex]y[/tex] represents the monthly rental price. Use the formula to determine the monthly rent for an apartment that has 1,200 square feet.

Answer :

To calculate the monthly rent for an apartment with 1,200 square feet using the linear regression formula, we substitute the square footage into the equation 'y = 1.165x + 615.23' to get a rent of $2,013.23.

The student's question relates to the application of a linear regression formula to determine the monthly rent for an apartment.

Given the linear regression formula y = 1.165x + 615.23, with x representing the square footage and y representing the monthly rental price, we can calculate the rent for an apartment that is 1,200 square feet.

To find the monthly rent (y) for an apartment with 1,200 square feet (x), we simply substitute 1,200 into the formula for and perform the arithmetic:

  • y = 1.165(1,200) + 615.23
  • y = 1398 + 615.23
  • y = $2,013.23

Therefore, the monthly rental price for an apartment with 1,200 square feet is $2,013.23.

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