Question
Suppose you are a real estate agent and you want to predict the fair selling price of a property at Aspen, CO. For this purpose,
Suppose you are a real estate agent and you want to predict the "fair" selling price of a property at Aspen, CO. For this purpose, you collected data from a random sample of 155 properties at Aspen, CO. For each property, the data set specifies the following variables: PRICE : The selling price divided by $10,000,000 BEDROOMS : The number of bedrooms divided by 10 BATHS : The number of bathroomsdivided by 10 SQFT : The living area in square feet divided by 10,000 CONDO : If the property is a condo, it equals 1. Otherwise, it is 0. You used the data and built the following artificial neural network model with one hidden node.
The activation function in the hidden node is logistic(sigmoid). The weights (coefficients) of the model are as follows: a : -0.27754 b : 1.61529 c : 1.4827 d : 0.14176 e : -1.9144 f : 3.46399 g : -0.44941 You will advertise a new single-family house on the marketat Aspen, CO. The single-family house has one bedroom, one bathroom, and 770square feet of living area. Use the artificial neural network model and predict the "fair" selling priceof this property. How many million USD is the predicted "fair" selling price? Round your answer to two decimal places. For instance, if the answer is 1,531,678 USD, simply enter it as $1.53 Million USD.
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