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Run a regression of age on housing prices. a. Write out the equation. Is there a potential heteroskedasticity problem? Explain in detail why or why

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Run a regression of age on housing prices. a. Write out the equation. Is there a potential heteroskedasticity problem? Explain in detail why or why not. b. If you answered yes in part a, test for this and, based on those results, suggest a solution c. Run the regression with and without the solution from part b. Comment on the difference d. Are there any omitted variables in this regression? e. Repeat the exercise from partf in question 1 except for this relationship. reg age price Source SS df MS Number of obs = 321 F (1, 319) 39.50 Model 37391. 8588 1 37391.8588 Prob > F 0.0000 Residual 301979. 113 319 946.642988 R-squared = 0. 1102 Adj R-squared 0. 1074 Total 339370.972 320 1060.53429 Root MSE = 30.768 age Coef. Std. Err. t p>/t/ [95% Conf. Interval] price - . 0002501 . 0000398 -6.28 0.000 - . 0003284 - . 0001718 _Cons 42 .04288 4. 191934 10.03 0.000 33.79555 50. 29021

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