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L FILE Arlington. A Realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage
L FILE Arlington. 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), the number of bathrooms (Baths), and a Colonial dummy variable (Colonial equals 1 if a colonial-style home, 0 otherwise). She collects data on 36 sales in Arlington for the analysis. A portion of the data is shown in the accompanying table. Price Sqft Beds Baths Colonial 840000 2768 4 3.5 822000 2500 4 2.5 . . . . . . ... . . . 307500 850 0 a. Estimate the model: Price = Bo + BySqft + 2Beds + 83Baths + 34Colonial + E. b. Interpret the coefficients attached to Beds and Colonial. c. Predict the price of a 2,500-square-foot, colonial-style home with three bedrooms and two bathrooms.L FILE Arlington. 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), the number of bathrooms (Baths), and a Colonial dummy variable (Colonial equals 1 if a colonial-style home, 0 otherwise). She collects data on 36 sales in Arlington for the analysis. A portion of the data is shown in the accompanying table. Price Sqft Beds Baths Colonial 840000 2768 4 3.5 822000 2500 4 2.5 . . . . . . ... . . . 307500 850 0 a. Estimate the model: Price = Bo + BySqft + 2Beds + 83Baths + 34Colonial + E. b. Interpret the coefficients attached to Beds and Colonial. c. Predict the price of a 2,500-square-foot, colonial-style home with three bedrooms and two bathrooms
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