Deported in the table below are estimation results for three residential housing price models. The dependent variable is as natural logarithms: Ln(Heated Area), Ln(Bedrooms), and Ln(Bathrooms). The first set of estimation results were obtained from a random sample of 800 home sales in Orange County. The second set ref estimation results were obtained from a random sample of 1200 home sales in Volusia County. The third set of estimation results were obtained from 'pooling the two datasets into a single dataset. The sample mean of the dependent variable is 72.42 in Orange County and 134.05 in Volusia County, the sample mean of Heated Area is 1,780.15 square feet in Orange County and 1,674.52 square feet in Volusia County; the sample mean number of Bedrooms is 3.26 in Orange County and 2.91 in Volusia County, and the sample mean number of Bathrooms is 2.16 in Orange County and 2.03 in Volusia County. Variable Ln(Heated Area) Ln(Bedrooms) Ln(Bathrooms) Intercept Sum of Squares: Orange County Model Estimated Standard Coefficient Error 259.72 12.57 -77.21 16.81 49.38 14.00 -1,718.28 82.62 SSR = 4,941,050 ESS = 7,097,210 Volusia County Model Estimated Standard Coefficient Error 177.43 6.54 -18.22 8.21 23.35 7.59 -1,171.92 43.47 SSR = 2,914,471 ESS = 3,460,789 Pooled Model Estimated Standard Coefficient Error 208.47 6.69 -18.71 8.38 38.73 7.58 -1,398.44 44.292 SSR - 8,677,195 ESS - 10,443,428 NOTE: SSR = Sum of Squared Residuals: ESS - Explained (Regression) Sum of Squares A From the Orange County model, estimate the mean marginal effect of each independent variable at the respective sample mean, and interpret the meaning of each of the estimated mean marginal effects. Deported in the table below are estimation results for three residential housing price models. The dependent variable is as natural logarithms: Ln(Heated Area), Ln(Bedrooms), and Ln(Bathrooms). The first set of estimation results were obtained from a random sample of 800 home sales in Orange County. The second set ref estimation results were obtained from a random sample of 1200 home sales in Volusia County. The third set of estimation results were obtained from 'pooling the two datasets into a single dataset. The sample mean of the dependent variable is 72.42 in Orange County and 134.05 in Volusia County, the sample mean of Heated Area is 1,780.15 square feet in Orange County and 1,674.52 square feet in Volusia County; the sample mean number of Bedrooms is 3.26 in Orange County and 2.91 in Volusia County, and the sample mean number of Bathrooms is 2.16 in Orange County and 2.03 in Volusia County. Variable Ln(Heated Area) Ln(Bedrooms) Ln(Bathrooms) Intercept Sum of Squares: Orange County Model Estimated Standard Coefficient Error 259.72 12.57 -77.21 16.81 49.38 14.00 -1,718.28 82.62 SSR = 4,941,050 ESS = 7,097,210 Volusia County Model Estimated Standard Coefficient Error 177.43 6.54 -18.22 8.21 23.35 7.59 -1,171.92 43.47 SSR = 2,914,471 ESS = 3,460,789 Pooled Model Estimated Standard Coefficient Error 208.47 6.69 -18.71 8.38 38.73 7.58 -1,398.44 44.292 SSR - 8,677,195 ESS - 10,443,428 NOTE: SSR = Sum of Squared Residuals: ESS - Explained (Regression) Sum of Squares A From the Orange County model, estimate the mean marginal effect of each independent variable at the respective sample mean, and interpret the meaning of each of the estimated mean marginal effects
