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Mathematics, 24.06.2020 22:01 isbella29
The accompanying dataset includes the annual prices of 50 commercial leases. All of these leases provide office space in a certain city. For the response, use the cost of the lease per square foot. As the explanatory variable, use the reciprocal of the number of square feet. Complete parts (a) through (d) below. Note: Show all work and use the program JMP ProCost_per_Sq_Foot 1/Sq_Feet17.26237 0.000052531116.46687 0.000055248418.49833 0.000006524416.86017 0.000018763815.69037 0.000044051114.63619 0.000019341815.45475 0.000019963618.37645 0.000016123115.97917 0.000413549217.39517 0.000299705818.72945 0.000093348115.72314 0.000008037514.80324 0.000032339615.89653 0.000218043615.33631 0.000160171218.25731 0.000495454217.18413 0.000188129315.74024 0.000009761618.38619 0.000126834815.30034 0.000031171615.13409 0.000019127318.03957 0.000042338217.15031 0.000059999317.90948 0.000065223317.98524 0.000153613616.32959 0.000147988216.77113 0.000044144615.41842 0.000053107815.64943 0.000007244316.99506 0.000016797515.38618 0.000013981518.09029 0.000081009216.95575 0.000015852616.85609 0.000072607717.91937 0.000128214918.62903 0.000101965918.31668 0.000061113417.78195 0.000042997318.81099 0.000056279915.78949 0.000007858616.21425 0.000037702322.20139 0.000487191617.21917 0.000006658217.20601 0.000138227616.09833 0.000155749715.61161 0.000019239318.23345 0.000269376315.74088 0.000207854217.30745 0.000019136918.36213 0.0001352095(a) Give a 95% confidence interval for the fixed cost (the portion of the cost that does not change with the size of thelease) of these leases, along with a brief interpretation. The fixed cost is from $ __ to $ __ (Round to the nearest dollar as needed)(b) Give a 95% confidence interval for the variable cost (the cost determined by the number of square feet) of these leases, along with a brief interpretation. The variable cost is from $ __ to __ (Round to the nearest cent as needed)(c) How much might a company pay, per square foot, for a specific lease with 16,000 square feet in this metropolitan area? Give a range to show to management. Use a 95% prediction interval. On average, the company would expect to pay from $ __ to $ __ per square foot (Round to the nearest cent as needed)(d) How much in total might the company pay for a 16,000 square foot lease? Give a range to show to management. Use a 95% prediction interval. On average, the company would expect to pay from $ __ to $ __ (Round to the nearest dollar as needed)
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The accompanying dataset includes the annual prices of 50 commercial leases. All of these leases pro...
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