Question
Using the data on Stockton Home Sales above, run the following regression model: price = b 0 + b 1 sqft + b 2 age
Using the data on Stockton Home Sales above, run the following regression model:
price = b0 + b1sqft + b2age + e
Based on your regression results, answer the following:
(Enter all numerical results with no commas or symbols and rounded out to four decimal places.)
b0 = ___________.____
b1 = ___________.____
b2 = ___________.____
According to your regression results, the change in the average price of a home in Stockton that would result from a 250 square footage increase in house size is predicted to be ________.____.
(Make sure to include the sign for the change, + or -, immediately before the numbers you enter to indicate whether the change is a rise or a fall.)
According to your regression results, the change in the average price of a home in Stockton that would result from a 10 year increase in house age is predicted to be ________.____.
(Make sure to include the sign for the change, + or -, immediately before the numbers you enter to indicate whether the change is a rise or a fall.)
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