Question: 1 The linear regression results below are based on commercial properties that real estate agencies use to Points: 3.5 guide clients with quantitative information helpful

1 The linear regression results below are based on commercial properties that real estate agencies use to Points: 3.5 guide clients with quantitative information helpful to make rental decisions. A random sample of 27 properties are considered with data for the variables, age of the property (X1), operating expenses and taxes (X2), vacancy rates (X3), total square footage (X4), and rental rates (Y). Parameter Estimates Coefficients Standard Error Intercept 14.33223914 1.457614894 AGE(X1) -0.115608327 0.031632885 EXPENSE(X2) 0.100364547 0.14274746 VACRATE(X3) 0.631648649 2.043860082 SQFOOT(X4) 0.063765767 0.024929829 What is the upper limit of the 95% confidence interval estimate for the effect of a square footage increase on the mean rental rates of properties? Type your numerical answer here
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
