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A researcher is interested in studying the factors that affected the monthly house rent (P, in hundred dollars) across CityAfor the time period 2014-2018. For

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A researcher is interested in studying the factors that affected the monthly house rent (P, in hundred dollars) across CityAfor the time period 2014-2018. For her study, she selects the size of the house (82, measured in sq ft), the distance of the house from downtown (D, measured in kilometres), the average real income of households within a one km radius of the house (I, expressed in ogarithmic terms), the inflation rate in the economy (ii, measured in percentage) as regressors. She collects data across 200 randomly selected localities in the city for this time period. Here, the average real income of households within a one km radius of the house (I), and the ination rate in the economy (It) are the economic variables. The following table shows the regression results. Dependent variable: Monthly house rent (in hundred dollars) Regressor (4) (5) Size of the house (82) (3.2;) (3221*) Distance of the house from -2.09 -1.98 downtown (D) (0.84) (0.76) Logarithm of average real income of 212\" households Within a one km radius (0' 98) (0 Inflation rate in the economy (it) 1'01\" (0.79) Years 20142018 20142018 2014201 8 2014-2018 20142018 State effects? no yes yes yes yes Time effects? no no yes yes yes Clustered standard errors? no yes yes yes yes n 200 200 200 200 F-Statistics and p-values on Joint Hypotheses 4.22 (0.002) 10.12 (

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