Suppose a researcher collects data on houses that have been
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Suppose a researcher collects data on houses that have been sold in a particular neighborhood over the past year, and ob
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Suppose a researcher collects data on houses that have been sold in a particular neighborhood over the past year, and obtains the regression results in the table shown below. a. Using the results in column (1), what is the expected change in price of building a 1500-square-foot addition to a house? Construct a 99% confidence interval for the percentage change in price. b. How is the coefficient on size interpreted in column (2)? What is the effect of a doubling of the size of a house on its price? c. Using column (2), what is the estimated effect of view on price? Construct a 99% confidence interval for this effect. Is the effect statistically different from 0? d. Use the results from the regression in column (3) to calculate the effect of adding 2 bedrooms to a house. Is the effect statistically significant? Which of the two variables
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