The quadratic version of the regression in equation (12.42) is (a) Interpret the signs and values of
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The quadratic version of the regression in equation (12.42) is
(a) Interpret the signs and values of bâ•›1 and bâ•›2 following the analysis of section 13.3.
(b) Check, either with confidence intervals or two-tailed hypothesis tests, whether bâ•›1 and bâ•›2 are statistically significant. Does the answer alter or confirm the interpretations of part a?
(c) Predict rents for apartments of two, four, six, and eight rooms. Compare these predictions. Does the comparison seem plausible? If yes, why? If no, why not, and what might explain the anomalies?
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