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Hours 342 426 317 545 264 451 1049 631 512 266 492 562 298 Apartments Rent 950 1600 1200 1500 950 1700 1650 935 875 1150 1400 1650 2300 1800 1400

An agent for a residential real estate company in a large city would like to be able to predict the monthly rental cost of apartments based on the size of the apartment. Data for a sample of 25 apartments in a particular neighborhood are provided in the worksheet Apartments in the Excel workbook data.xls. At the .05 level of significance determine if the correlation between rental cost and apartment size is significant.

A. No, there is not a statistically significant linear relationship between monthly rental cost and apartment size, because the sample correlation coefficient is less than .95.
B. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the p-value for this test is less than .0001.
C. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the t-test value, 7.74, is greater than the critical value 1.96.
D. Yes, there is a statistically significant linear relationship between monthly rental cost and apartment size, because the sample correlation coefficient 0.85 exceeds 0.50.
Hours 342 426 317 545 264 451 1049 631 512 266 492 562 298
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540498_STAT.doc

An agent for a residential real estate company in a large city would like to be able to
predict the monthly rental cost of apartments based on the size of the apartment. Data for
a sample of 25...

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