An agent for a real estate company in a large city would like to be able to predict the monthly rental cost for apartments, based on the size of the apartment, as defined by square footage. A sample of eight apartments in a neighborhood was selected, and the information gathered revealed the data shown below. For these data, the regression coefficients are bo = 173.0964 and b = 1.0343. Complete parts (a) through (d).Monthly Rent ($) 950 1,550 800 1,550 2,000 975 1,825 1.250Size (Square Feet) 900 1,300 900 1,150 1,900 650 1,300 1,100a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of the estimate, Syx, and interpret its meaning.c. How useful is this model for predicting the monthly rent?d. What other variables might explain the variation in monthly rent?