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An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of eight apartments in a neighborhood was selected, and the information gathered revealed the data shown below. For these data, the regression coefficients are by = 150.4267 and b, = 1.0491. Complete parts (a) through (d). Monthly Rent ($) 0 1,450 850 1,600 1,950 950 1,700 1,350 Size (Square Feet) 800 1,300 950 1,250 1,800 650 1,250 1,100 b. Determine the standard error of the estimate, Syx Syx = (Round to three decimal places as needed.) c. How useful is this model for predicting the monthly rent? A. It is very useful for predicting the monthly rent because r is close to 1 and Syx is fairly small compared to the actual rents. B. It is not very useful for predicting the monthly rent because although r? is close to 1, Syx is fairly small compared to the actual rents. O C. It is very useful for predicting the monthly rent because r is close to 1. Syx does not indicate whether a regression model is useful. D. It is not very useful for predicting the monthly rent because r" is close to 0 and Syy is fairly small compared to the actual rents. d. What other variables might explain the variation in monthly rent? Select all that apply. A. The condition of the apartment B. The desirability of the apartment building's location C. The presence or absence of carpeting in the apartment D. Whether parking is available to tenants E. Whether tenants are allowed to keep pets Click to select your answer(s)