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sing 1988 data for houses sold in XYX county, the following equation relates housing price rice) to the distance from a recently built incinerator (dist)
sing 1988 data for houses sold in XYX county, the following equation relates housing price rice) to the distance from a recently built incinerator (dist) log(price)=9.40+0.312log(dist)n=135,R2=0.162 a. Do you think simple regression provides an unbiased estimator of the ceteris paribus elasticity of price with respect to dist? (Think about the city's decision on where to put the incinerator). sing 1988 data for houses sold in XYX county, the following equation relates housing price rice) to the distance from a recently built incinerator (dist) log(price)=9.40+0.312log(dist)n=135,R2=0.162 a. Do you think simple regression provides an unbiased estimator of the ceteris paribus elasticity of price with respect to dist? (Think about the city's decision on where to put the incinerator)
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