You want to rent a three-bedroom apartment close to campus with two of your friends. You...

 

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You want to rent a three-bedroom apartment close to campus with two of your friends. You have checked the sizes and the rents of a bedroom in five of those apartments. The data are summarized in the following table. The variables are size in square feet (the independent variable, "X") and the rent amount in dollars per month (the dependent variable, Y). Observation # 1 Apartment A Rent (Y) $1,400 2 B $1,500 3 C $1,300 4 D $1,600 5 E $1,200 Size (X) 130sqft 160sqft 120sqft 150sqft 120sqft 1. (26p) Use a calculator, a spreadsheet, or "by hand" methods to compute the following; refer to the lecture slides or textbook for the necessary formulas. (Note: if you use a spreadsheet, copy/paste a printout; do not use the built-in formulas. You need to calculate it step-by-step) (a) (4p) The sample means of X and Y, X and Y (b) (4p) The standard deviations of X and Y, sx and Sy. (c) (3p) Covariance X and Y, Sxy. (d) (3p) The correlation coefficient, r, between X and Y You want to rent a three-bedroom apartment close to campus with two of your friends. You have checked the sizes and the rents of a bedroom in five of those apartments. The data are summarized in the following table. The variables are size in square feet (the independent variable, "X") and the rent amount in dollars per month (the dependent variable, Y). Observation # 1 Apartment A Rent (Y) $1,400 2 B $1,500 3 C $1,300 4 D $1,600 5 E $1,200 Size (X) 130sqft 160sqft 120sqft 150sqft 120sqft 1. (26p) Use a calculator, a spreadsheet, or "by hand" methods to compute the following; refer to the lecture slides or textbook for the necessary formulas. (Note: if you use a spreadsheet, copy/paste a printout; do not use the built-in formulas. You need to calculate it step-by-step) (a) (4p) The sample means of X and Y, X and Y (b) (4p) The standard deviations of X and Y, sx and Sy. (c) (3p) Covariance X and Y, Sxy. (d) (3p) The correlation coefficient, r, between X and Y