Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 Economics I regress the number of BATHrooms in a house PRICE (in thousands of dollars) and get this table. Which statement(s) below are correct?
2
Economics I regress the number of BATHrooms in a house PRICE (in thousands of dollars) and get this table. Which statement(s) below are correct? Model 2: OLS, using observations 1-546 Dependent variable: Bath coefficient std. error t-ratio p-value const 0.623765 0.0505019 12.35 4.57e-031 * * * Price 0.00971 0.000690e-04 14.08 1.34e-038 ** * Mean dependent var 1.285714 S.D. dependent var 0.502158 Sum squared resid 100.7353 S.E. of regression 0.430320 R-squared 0.266999 Adjusted R-squared 0.265651 F(1, 544) 198.1543 P-value(F) 1.34e-38 O If I increase the house price by $1000, I expect there to be roughly 0.01 more bathrooms on average O A house with a price of $0 would have O bathrooms on average O House price is not a statistically significant determinant of the number of bathrooms O The number of bathrooms in the average house in the data set is 0.6 O If I increase the house price by $1, I expect there to be roughly 0.01 more bathrooms on averageStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started