HOW - Rentals, Condos, and Other Costs Lesson
Rentals, Condos, and Other Costs
Introduction
Buying a home is not the only choice you have for housing. Some choose to rent a house or an apartment and some may choose to buy a condominium. There are associated fees and monthly costs with each one of these options. In some cases, it may be more efficient to buy a house if you are able to come up with the down payment and then in other cases renting a house or apartment may have the smaller monthly payment. It’s good to consider all options before making a choice!
Predicting an Increase in Rent
Rent prices tend to increase from year to year due to inflation. The increase can be a linear increase or an exponential increase. Rent prices can also be dependent on the square footage of the rental. You can use regression techniques to come up with an equation that can predict future increases!
Linear Regression
Watch the following video and take down important notes, such as formulas and procedures. Follow along and try the examples as well.
Steps Using Your Calculator
*These steps may vary depending on your calculator.
Press STAT and then Edit.
Input the data.
Press STAT, then CALC, then LinReg and ENTER
Steps Using a Spreadsheet
Input the data into two columns.
Highlight the data, click INSERT and choose a scatterplot.
Using the design tools, change the layout of the scatterplot to include the trend line.
Exponential Regression
Watch the following video and take down important notes, such as formulas and procedures. Follow along and try the examples as well.
Steps Using Your Calculator
*These steps may vary depending on your calculator.
Press STAT and then Edit.
Input the data.
Press STAT, then CALC, then ExpReg and ENTER
Steps Using a Spreadsheet
Input the data into two columns.
Highlight the data, click INSERT and choose a scatterplot.
Using the design tools, change the layout of the scatterplot to include the trend line.
Double click the trend line. Change the trend line options to exponential.
In Your Notebook: Please take down important notes, such as formulas, and attempt the practice examples on your own before viewing the solutions!
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