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Use the multiple regression output below to answer Question 4.The dependent variable is the natural logarithm of home prices while the explanatory variables are the
Use the multiple regression output below to answer Question 4.The dependent variable is the natural logarithm of home prices while the explanatory variables are the natural logarithm of the lot size (lnlotsize), the natural logarithm of the square feet of the house (lnsqrft), and the number of bedrooms (bdrms) for a random sample of 88 houses
Model 1: OLS, using observations 1-88 Dependent variable: Inprice coefficient std. error t-ratio p-value - - - - - - - - - const 5 . 61071 0 . 651284 8 . 615 3. 54e-013 * * * Inlotsize 0. 167967 ? ? ? ? ? ? ? ? ? 4. 388 3. 31e-05 * * * Insqrft 0 . 700232 0 . 0928652 7 . 540 5. 01e-011 * * * bdrms 0 . 0369584 0 . 0275313 ? ? ? ? ? ? ? ? ? ? ? ? ? ? Mean dependent var 12 . 54094 S. D. dependent var 0. 303573 Sum squared resid 2. 862563 S. E. of regression 0 . 184603 R-squared ? ? ? ? ? ? ? ? Adjusted R-squared 0 . 630214 F (3, 84) 50 . 42374 P-value (F) 9. 74e-19Step by Step Solution
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