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Let y represent house price measured in thousand dollars. Let X1 represent the natural logarithm of land size measured in square meters and x2 the
Let y represent house price measured in thousand dollars. Let X1 represent the natural logarithm of land size measured in square meters and x2 the number of bedrooms. Suppose the estimated model is y^=10+2x1+0.1X2. Which of the following statements is the most accurate? a. The house price is predicted to increase by 2 thousand dollars for every 1 per cent increase of land size holding number of bedrooms constant. b. The house price is predicted to increase by 2 per cent for every 1 per cent increase of land size holding number of bedrooms constant. c. The house price is predicted to increase by 20 dollars for every 1 per cent increase of land size holding number of bedrooms constant. d. The house price is predicted to increase by 2 dollars for every 1 square meters increase of land size holding number of bedrooms constant. e. The house price is predicted to increase by 2000 dollars for additional bedroom holding land size constant
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