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You work for a mortgage broker and would like to model house prices. You have data on house price (Price, measured in dollars), the land
You work for a mortgage broker and would like to model house prices. You have data on house price (Price, measured in dollars), the land area of the property (LandSize, measured in square metres) and the number of Bedrooms (Beds, measured in number of bedrooms). The regression output is given below Coefficients Std Error t Stat P-values (Intercept) 3435.552293 280.1481937 12.263339 0.0000055 LandSize 5.470142 0.2325753 23.519878 0.0000001 Beds 225.902816 96.1637588 -2.349147 0.0511516 You need to test whether the coefficient of LandSize is equal to 5.45 against the alternative that it is not equal to 5.45. What is the value of the t statistic? Report your answer to 2 decimal places
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