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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 (Sqft), the number

A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), 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 Sqft Beds Baths
672000 2214 3 3.0
822000 2500 4 2.5
713000 2400 3 3.0
751636 2400 4 2.0
737692 2925 4 3.0
645000 2524 3 2.0
432692 1891 3 1.5
454667 1786 3 2.5
587500 2100 3 1.5
585000 1947 3 1.5
583000 2224 3 2.5
569000 3262 4 2.0
764400 2509 4 3.0
540000 1488 3 1.5
732273 3964 4 3.5
516000 1951 4 2.0
738111 2531 4 2.5
714000 2418 4 3.0
693000 2369 4 3.0
463000 1714 3 2.0
639800 2310 4 3.0
451000 1685 3 2.0
435000 1500 3 1.5
431700 1896 2 1.5
414000 1182 2 1.5
602250 1728 4 2.0
319200 1106 3 1.0
253333 896 3 1.0
285000 954 2 1.0
375900 2275 5 1.0
372000 1005 2 1.0
275625 954 2 1.0
356500 1431 2 2.0
247500 1022 2 1.0
330000 1465 3 1.0
461250 1275 2 1.0

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a. Estimate the model: Price = Be + By Sqft + B2Beds + B3 Baths + E. (Round Coefficients to 2 decimal places.) 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 $78.93. O For every additional square foot, the predicted price of a home increases by $78.93, holding number of bedrooms and bathrooms constant. O For every additional square foot, the predicted price of a home increases by $78.93, 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 $27,136.37. For every additional bedroom, the predicted price of a home increases by $27,136.37, holding square footage and number of baths constant. O For every additional bedroom, the predicted price of a home increases by $27,136.37, holding square foot, number of bedrooms and bathrooms constant. b-3. Interpret the coefficient of baths. O For every additional bathroom, the predicted price of a home increases by $109,341.95. O For every additional bathroom, the predicted price of a home increases by $109,341.95, holding square footage and number of bedrooms constant. O For every additional bathroom, the predicted price of a home increases by $109,341.95, holding square foot, number of bedrooms and bathrooms constant. c. Predict the Price of a 2,423 square-foot home with three bedrooms and two bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Price a. Estimate the model: Price = Be + By Sqft + B2Beds + B3 Baths + E. (Round Coefficients to 2 decimal places.) 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 $78.93. O For every additional square foot, the predicted price of a home increases by $78.93, holding number of bedrooms and bathrooms constant. O For every additional square foot, the predicted price of a home increases by $78.93, 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 $27,136.37. For every additional bedroom, the predicted price of a home increases by $27,136.37, holding square footage and number of baths constant. O For every additional bedroom, the predicted price of a home increases by $27,136.37, holding square foot, number of bedrooms and bathrooms constant. b-3. Interpret the coefficient of baths. O For every additional bathroom, the predicted price of a home increases by $109,341.95. O For every additional bathroom, the predicted price of a home increases by $109,341.95, holding square footage and number of bedrooms constant. O For every additional bathroom, the predicted price of a home increases by $109,341.95, holding square foot, number of bedrooms and bathrooms constant. c. Predict the Price of a 2,423 square-foot home with three bedrooms and two bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Price

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