Monthly rates and Vacancy rates In creating our scatter plot we would have monthly rent on the x axis and vacancy rates on the y axis. Each point on the scatter plot corresponds to a specific observation, such as an apartment complex, or rental unit, with its rent rate plotted against its vacancy rate. The independent variable is what you change, and In this case, we are looking at how changes in monthly rent affects the vacancy rate. I would expect a high correlation between monthly rent rates and vacant rates. Typically, when rates are high, vacancy rates tend to be lower, because there are less apartments on the market which can be a reason prices increase. Conversely, if rent rates are low, vacancy rates may increase because there are more apartments on the market needing to be rented. Rent prices are typically set by landlords and based on the market and can be adjusted. Vacancy rates are outcomes that result from tenants' responses to those prices. This makes monthly rental rates the input or independent variable, and vacancy rates the output or dependent variable. PEER REPLY 1: Choose a classmate's Main Post. 1. Indicate a range of values for the independent variable (x) that is reasonable based on the data provided. 2. Explain what the predicted range of dependent values should be based on the range of independent values.
Monthly rates and Vacancy rates In creating our scatter plot we would have monthly rent on the x axis and vacancy rates on the y axis. Each point on the scatter plot corresponds to a specific observation, such as an apartment complex, or rental unit, with its rent rate plotted against its vacancy rate. The independent variable is what you change, and In this case, we are looking at how changes in monthly rent affects the vacancy rate. I would expect a high correlation between monthly rent rates and vacant rates. Typically, when rates are high, vacancy rates tend to be lower, because there are less apartments on the market which can be a reason prices increase. Conversely, if rent rates are low, vacancy rates may increase because there are more apartments on the market needing to be rented. Rent prices are typically set by landlords and based on the market and can be adjusted. Vacancy rates are outcomes that result from tenants' responses to those prices. This makes monthly rental rates the input or independent variable, and vacancy rates the output or dependent variable. PEER REPLY 1: Choose a classmate's Main Post. 1. Indicate a range of values for the independent variable (x) that is reasonable based on the data provided. 2. Explain what the predicted range of dependent values should be based on the range of independent values.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 3AGP
Related questions
Question
Transcribed Image Text:Monthly rates and Vacancy rates
In creating our scatter plot we would have monthly rent on the x axis and vacancy
rates on the y axis. Each point on the scatter plot corresponds to a specific
observation, such as an apartment complex, or rental unit, with its rent rate plotted
against its vacancy rate. The independent variable is what you change, and In this
case, we are looking at how changes in monthly rent affects the vacancy rate.
I would expect a high correlation between monthly rent rates and vacant rates.
Typically, when rates are high, vacancy rates tend to be lower, because there are
less apartments on the market which can be a reason prices increase. Conversely,
if rent rates are low, vacancy rates may increase because there are more
apartments on the market needing to be rented. Rent prices are typically set by
landlords and based on the market and can be adjusted. Vacancy rates are
outcomes that result from tenants' responses to those prices. This makes monthly
rental rates the input or independent variable, and vacancy rates the output or
dependent variable.
Transcribed Image Text:PEER REPLY 1:
Choose a classmate's Main Post.
1. Indicate a range of values for the independent variable (x) that is reasonable
based on the data provided.
2. Explain what the predicted range of dependent values should be based on
the range of independent values.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning