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You are applying the following hedonic pricing approach to assess the market value of a property.PRICE per sq ft = CONSTANT + b1* AREA +

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You are applying the following hedonic pricing approach to assess the market value of a property.PRICE per sq ft = CONSTANT + b1* AREA + b2*TENNIS COURT + b3*AGE + b4*SCHOOL. Determine the market value of a subject property with the following characteristics:1,800 square feet, a nearby tennis court, 2 years of age, and off the school district.

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