(Round intermediate calculations to at least 4 decimal places.)

House priceyis estimated as a function of the square footage of a housexand a dummy variabledthat equals 1 if the house has ocean views. The estimated house price, measured in $1,000s, is given by.

= 123.94 + 0.19x+ 52.74d.

a-1.Compute the predicted price (in $1,000s) of a house with ocean views and square footage of 2,400.(Round your answer to 2 decimal places.)

Predicted price

a-2.Compute the predicted price (in $1,000s) of a house with ocean views and square footage of 3,400.(Round your answer to 2 decimal places.)

Predicted price

b-1.Compute the predicted price (in $1,000s) of a house without ocean views and square footage of 2,400.(Round your answer to 2 decimal places.)

Predicted price

b-2.Compute the predicted price (in $1,000s) of a house without ocean views and square footage of 3,400.(Round your answer to 2 decimal places.)

Predicted price

c.Discuss the impact of ocean views on the house price.An ocean view increases the value of house price at the given level (52.74 thousand dollars).An ocean view decreases the value of house price at the given level (52.74 thousand dollars).