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(5 points) Consider an equation to explain rent rates (rent) in a college town. Using the data, the following equation is obtained by OLS: log(rent)

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(5 points) Consider an equation to explain rent rates (rent) in a college town. Using the data, the following equation is obtained by OLS: log(rent) = 0.043 + 0.066 log(pop) + 0.507 log(avginc) + 0.0056 petstu (0.844) (0.039) (0.081) (0.0017) n = 64, R

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