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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. Determine the regression line. b. Interpret the coefficients.

Answer :

The regression line will be y = 20.64 - 0.3038x.

How to explain the regression?

It should be noted that regression is a statistical method that determine the relationship between the variables.

Here, the regression line will be y = 20.64 - 0.3038x. The slope coefficient is -0.03038 and the intercept is 20.460.

The slope coefficient defines that for a unit increase in the percentage of vacancy rate will reduce 0.3038 unit of monthly office rent.

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