Table B. 24 contains data on median family home rental price and other data for 51 US cities. Fit a linear regression model using the median home rental price as the response variable and median price per square foot and population as the predictor variables.

a. Test for significance of regression.

b. Find a $95 % \mathrm{Cl}$ on the regression coefficients in this model.

c. Does this set of predictors do an adequate job of explaining the variability in home rental prices?

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95th Percentile City Population Income Median Sale Price Median Rental Price/sqft Price Los Angeles - Long Beach - 3,976,322 258,144 554,700 387.32 3095 Anaheim, CA Chicago, IL 2,704,958 231,116 Dallas-Fort Worth, TX 2,172,042 235,120 Philadelphia, PA 1,567,872 174,127 Houston, TX 2,303,482 234,742 Washington, DC 681,170 352,958 Miami-Fort Lauderdale, FL 453,579 200,530 231,900 Atlanta, GA 472,522 306,307 212,500 145.89 1600 222,800 121.74 1595 195,100 129.36 1500 205,200 113.88 1600 363,100 211.71 2200 198.02 2100 177,100 104.74 1295 Boston, MA 673,184 261,973 381,200 245.01 2595 San Francisco, CA 870,887 507,824 715,400 Riverside, CA 324,722 198,549 305,100 183.18 Phoenix, AZ 1,615,017 200,053 224,500 139.51 439.31 3200 1750 1300 Seattle, WA 704,352 334,519 365,800 221.63 2095 Minneapolis-St Paul, MN 716,049 222,240 227,700 176.47 1495 San Diego, CA 1,406,630 267,615 St. Louis, MO 311,404 181,227 Tampa, FL 377,165 251,897 485,900 330.4 156,100 115.16 1000 166,600 122.62 1395 2550 Baltimore, MD 614,664 204,678 238,400 Denver, CO 693,060 276,281 334,200 171.13 1600 232.07 1995 Pittsburgh, PA 303,625 181,433 130,000 110.17 1100 Portland, OR 639,863 247,701 321,400 198.28 1795 Charlotte, NC 842,051 236,485 185,400 114.5 1300 Sacramento, CA 495,234 195,061 336,300 211.64 1595 San Antonio, TX 1,492,510 177,060 194,600 Orlando, FL 277,173 177,393 Cincinnati, OH 298,800 182,181 113.58 1150 203,200 124.29 1450 143,500 Las Vegas, NV 632,912 180,963 Columbus, OH 860,090 156,833 206,300 164,100 114.43 1200 103.98 1190 129.71 1295 San Jose, CA 1,025,350 347,618 Austin, TX 947,890 Virginia Beach, VA 452,602 Nashville, TN Milwaukee, WI Jacksonville, FL Memphis, TN Oklahoma City, OK 638,367 Louisville, KY 616,261 182,454 292,201 1450 211,324 202,200 132.08 1350 660,388 200,174 211,500 140.84 1500 595,047 139,553 185,000 129.93 1150 880,619 170,019 163,900 117.24 1250 652,717 162,902 133,300 81.38 995 198,232 142,400 108.05 1150 159,600 116.49 843,400 547.45 3500 268,300 149.53 995 Hartford, CT 123,243 135,161 206,600 147.96 1600 Richmond, VA 223,170 197,041 201,800 126.64 1240 New Orleans, LA 391,495 203,254 183,100 129.25 1320 Buffalo, NY 256,902 158,362 128,900 102.51 1200 Raleigh, NC 458,880 246,055 234,800 124.68 1399 Birmingham, AL Salt Lake City, UT Rochester, NY Tucson, AZ Fresno, CA Worcester, MA 212,157 135,822 135,000 99.06 1000 193,744 213,734 264,000 180.17 1400 208,880 131,994 142,600 93.13 1200 530,706 142,700 182,200 117.22 1100 446,970 181,767 224,200 145.39 1200 184,508 185,698 224,300 156.55 1500 New Haven, CT 129,934 168,491 Albuquerque, NM 559,277 189,916 Omaha, NE 446,970 202,123 191900 152.71 186,300 151,900 1650 128.91 1200 126.05 1200