Question 1 The management of First Realty is carrying out a study to investigate how the size and age of houses affect the sale price of houses in Baton Rouge, Louisiana. The following table is the regression results from the econometric model: price = ,6] + zsqft + sAge + e for a sample of 1080 houses. price: sale price of house in US$ sqft: total square feet of house Age: age of house in years Model 1: OLS, using observations 1-1080 Dependent variable: price C Decient Std. Error t-ran'o p-value const -41947 .7 6989.64 6.0014 --- sqft 90.9698 2.4031 37.8552 -- Age 7 55.041 140.894 5.3589 Mean dependent var 154863 .2 SD. dependent var 1229128 Sum squared resid 6.69e+12 S .E. of regression 78814.86 R-squared 0.589592 Adjusted R-squared 0.588829 F(2 , 1077) 773 .6077 P-value(F) 5 .2e209 (a) State the estimated linear regression equation, price = b; + 2st + bgAge, with the above regression results and interpret the estimates of b2 and 193. (b) Predict the sale price of a house with 2,000 square feet and 25 years old. (0) What is R-Square (R2)? Report the R2 of the above regression results and interpret its meaning. (d) If the sale price of houses (price) is rescaled by dividing the values of price by1000, how does it affect the estimates of b1, b2, and b3 and the corresponding standard errors