Hi there,

I got c for this question and wondering whether my answer is correct (so sorry that I do not have the correct answer). I have attached my calculation procedure and the original question for this question. Please tell me whether my calculation is correct or point out my mistakes.

Really appreciate!

Kind regards.

Question 15 A real estate agents is interested in knowing the relationship between house size and prices in Sydney. He collects Not yet the data on house prices and size, runs a regression of Log(price) on size and obtains the following results: answered log(Price) = -10 + 0.001*Size, where size is in square foot and price is in 100 of dollars. Marked out of 1.00 Interpret the coefficient on the variable Size Flag question Select one: O a. The model suggests that for every square foot increase in size, the Sydney houses increase in cost by 0.001% O b. The model suggests that for every square foot increase in size, the Sydney houses increase in cost by $0.001 O c. The model suggests that for every square foot increase in size, the Sydney houses increase in cost by 0.1% O d. The model suggests that for every square foot increase in size, the Sydney houses increase in cost by 1%( !P)- to to, vul size. Let size = n, let P in culler whit: P = p To to. ooln dp dn - ( wxolvol x @ = 01 00 / XP by 1 unit AS in increase, P increase by soul I meaning increase by ulo/