An economist wanted to investigate the relationship between office rents (the dependent variable) and vacancy rates. Accordingly, he took a random sample of monthly office rents and the percentage of vacant office space in 30 different cities.
- a. What is the standard error of estimate? Interpret its value.
- b. Describe how well the memory test scores and length of television commercial are linearly related.
- c. Are the memory test scores and length of commercial linearly related? Test using a 5% significance level.
- d. Estimate the slope coefficient with 90% confidence.