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[画像: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.]
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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.
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