The file is too big to post. Please guide me on how to answer these questions using the data provided.

This file contains data on 1000 houses sold in the suburbs of a large U.S. city in 2021.

Use the data to answer questions 1 to 7 below. You may use Gretl to estimate all models. All numerical answers should be stated to 2 decimal places.

The full list of variables and variable descriptions are as follows:

PRICE = sale price, dollars BEDROOMS = number of bedrooms BATHS = number of full baths SQFT = total square feet FLOOR = number of floors WATERFRONT = 1 if on the waterfront CONDITION = rating of condition on a scale of 1 to 5 YR_BUILT = year of construction

Question 1: Estimate the following simple regression model for all the observations in your sample:

PRICE=0+1SQFT+uPRICE=0+1SQFT+u

State and interpret the estimated coefficients.

Questions 2:

Estimate the following simple regression model for all the observations in your sample:

PRICE=0+1SQFT2+uPRICE=0+1SQFT2+u Compute the marginal effect of an additional square foot of living area in a home with the sample median square feet of living space. Interpret your result.