Suppose that a researcher collects data on houses that have sold in a particular neighborhood over the past year and obtains the regression results in the table shown below. Dependent variable: In(Price) Regressor Size In(Size) In(Size)² Bedrooms Pool View Pool View Condition Intercept Summary Statistics -2 (1) 0.00044 (0.000041) R N 0.087 (0.035) 0.041 (0.033) 0.19 (0.047) 12.17 (0.073) (2) (3) 0.73 0.77 (0.058) (0.089) 0.073 (0.035) 0.026 (0.029) 0.0039 (0.041) 0.072 (0.036) 0.026 (0.028) (4) 0.63 (2.06) 0.0085 (0.17) 0.075 (0.039) 0.026 (0.032) 0.15 0.15 0.13 (0.036) (0.038) (0.039) 6.62 6.72 7.07 (0.43) (0.53) (7.53) (5) 0.72 (0.062) 0.077 (0.037) 0.026 (0.031) 0.0032 (0.14) 0.22 (0.037) 6.64 (0.42) 0.0715 0.0769 0.0817 500 500 500 500 5000 Variable definitions: Price = sale price ($); Size = house size (in square feet); Bedrooms = number of bedrooms; Pool= binary variable (1 if house has a swimming pool, 0 otherwise); View = binary variable (1 if house has a nice view, 0 otherwise); Condition = binary variable (1 if real estate pont reports house is in excellent condition, 0 otherwise).
Suppose that a researcher collects data on houses that have sold in a particular neighborhood over the past year and obtains the regression results in the table shown below. Dependent variable: In(Price) Regressor Size In(Size) In(Size)² Bedrooms Pool View Pool View Condition Intercept Summary Statistics -2 (1) 0.00044 (0.000041) R N 0.087 (0.035) 0.041 (0.033) 0.19 (0.047) 12.17 (0.073) (2) (3) 0.73 0.77 (0.058) (0.089) 0.073 (0.035) 0.026 (0.029) 0.0039 (0.041) 0.072 (0.036) 0.026 (0.028) (4) 0.63 (2.06) 0.0085 (0.17) 0.075 (0.039) 0.026 (0.032) 0.15 0.15 0.13 (0.036) (0.038) (0.039) 6.62 6.72 7.07 (0.43) (0.53) (7.53) (5) 0.72 (0.062) 0.077 (0.037) 0.026 (0.031) 0.0032 (0.14) 0.22 (0.037) 6.64 (0.42) 0.0715 0.0769 0.0817 500 500 500 500 5000 Variable definitions: Price = sale price ($); Size = house size (in square feet); Bedrooms = number of bedrooms; Pool= binary variable (1 if house has a swimming pool, 0 otherwise); View = binary variable (1 if house has a nice view, 0 otherwise); Condition = binary variable (1 if real estate pont reports house is in excellent condition, 0 otherwise).
Chapter1: Introducing The Economic Way Of Thinking
Section1.A: Applying Graphics To Economics
Problem 1SQ
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