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A researcher runs the following hedonic model with the Eviews output presented below. log(seUing price) = bo + bl log(SFLA) + b2BEDS + b3BATHS
A researcher runs the following hedonic model with the Eviews output presented below. log(seUing price) = bo + bl log(SFLA) + b2BEDS + b3BATHS + b4STORIES +bsVACANT + b6Age + e Dependent variable: Method Least Squares Date: 08/03/21 Time: 16:44 sample: 1 6660 IF YEAR=2001 Included observations: 1746 Variable LOG(SFLA) BEOS BATHS STORIES VACANT AGE R-squared Adjusted R-squared S E. of regression Sum squared resid Log likelihood F-statistic Prob(F-statistic) Coefficient 5585555 0.927219 -0_070723 0.033151 -0.016338 -0_038751 -0_004138 0.708301 0.707295 0.201323 70 48308 3246102 7037708 0.000000 Std. Error o. 1670g7 0.0267Q 0.009522 0.015441 0.015059 0.011280 0.000264 t-Statlstlc 3342708 3460855 -7.427548 2146881 -1.084936 -3.435469 -1564540 Mean dependent var S.D. dependent var Akaike info criterion Schwarz criterion Hannan-Quinn criter_ Durbin-Watson stat p rob. 0.0000 0.0000 0.0000 0.0319 0.2781 0.0006 0.0000 12 01860 0.372115 -0.363815 -0.341904 -0.355714 1.326302 Q7_ Interpret the coefficient of LOG(SFLA) (i.e., log of the square foot living area). [2] Q8_State the independent variable whose estimate is not statistically significant at the 5% significance level [2] Q9_ IVhat is the percentage difference of the property price that is vacant and occupied? [2]
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