A study [6] of the housing market in Mission Viejo, California, looked at 15 matched pairs of

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A study [6] of the housing market in Mission Viejo, California, looked at 15 matched pairs of houses that were sold or rented in 2005. Table 10.4 shows the sale price for each house, the size of the house (square feet), and the monthly rent for the house that is a matched pair.

a. Estimate a simple regression equation using price as the dependent variable and size as the explanatory variable.

b. Estimate a simple regression equation using price as the dependent variable and rent as the explanatory variable.

c. Estimate a multiple regression equation using price as the dependent variable and size and rent as explanatory variables.

d. Explain any differences between your multiple regression equation

(c) and the two simple regression equations (a and b).image text in transcribed

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