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(Solved): HINT: Your final answer should be somewhere between 0.8 and 1.75. In this example, we use the typica ...



HINT: Your final answer should be somewhere between 0.8 and 1.75. In this example, we use the typical sales price of homes in a random sample of US counties (recorded with units as $1000 per square foot) to predict the typical rental cost in the county (in units of $ per square foot). y: The typical Rental Cost in the county (units: $ per square foot). x: The typical sales price of properties in the county (units: $1000 per square foot). Assume the regression equation is . y hat = 0.49 + 2.23x Assume one County has a typical sales price of properties at $437 per square foot. What is the predicted Rental Cost per square foot in this county? Remember to be careful about the units on the explanatory variable x. Report your final answer with at least 3 decimal places.



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