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A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage 10 (Sqit), the
A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage 10 (Sqit), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington in the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table. Price Deda Baths 784,000 2,583 3.0 632,308 1,923 2.0 3.33 points 461, 250 1,275 1.0 00:37:42 Click here for the Excel Data File a. Estimate the model: Price = So + 81Sqft + #2Beds + #;Baths + &. (Round Coefficients to 2 decimal places.) BOOK Coefficients Intercept Sqft Beds Baths b-1. Interpret the coefficient of sqft. O For every additional square foot, the predicted price of a home increases by $103.35. O For every additional square foot, the predicted price of a home increases by $103.35, holding number of bedrooms and bathrooms constant. For every additional square foot, the predicted price of a home increases by $103.35, holding square foot, number of bedrooms and bathrooms constant. b-2. Interpret the coefficient of beds. For every additional bedroom, the predicted price of a home increases by $32,865.34. For every additional bedroom, the predicted price of a home increases by $32,865.34, holding square footage and number of baths constant. For every additional bedroom, the predicted price of a home increases by $32,865.34, holding square foot, number of bedrooms and bathrooms constant. b-3. Interpret the coefficient of baths. For every additional bathroom, the predicted price of a home increases by $84,118.88. O For every additional bathroom, the predicted price of a home increases by $84,118.88, holding square footage and number of bedrooms constant. For every additional bathroom, the predicted price of a home increases by $84,118.88, holding square foot, number of bedrooms and bathrooms constant. c. Predict the Price of a 2,490 square-foot home with two bedrooms and one bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.)A B C D E F G Price Sqft Beds Baths IN 784000 2583 4 3.0 632308 1923 2.0 831833 2800 5 2.0 689000 2200 2.5 685000 2716 3 3.5 774000 3029 4 2.0 625000 2732 4 2.5 454667 1786 3 2.5 10 587500 2100 1.5 585000 1947 1.5 583000 2224 2.5 13 569000 3262 4 2.0 14 764400 2509 4 3.0 15 780000 2149 4 2.5 537000 2907 3 2.5 17 516000 1951 2.0 511000 1752 1.5 19 510000 1727 2.0 20 495000 1692 2.0 21 463000 1714 3 2.0 457000 1650 3 2.0 23 451000 1685 2.0 24 628333 2167 2.5 25 431700 1896 1.5 N N 26 414000 1182 1.5 27 602250 1728 4 2.0 28 478800 1660 4 2.0 253333 896 3 1.0 285000 954 1.0 375900 2275 5 1.0 12 372000 1005 2 1.0 13 275625 954 1.0 534750 2147 3 3.0 35 412500 1703 3 2.0 16 330000 1465 1.0 461250 1275 1.0
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