3. A sample of 30 houses (data set: House) that were sold in the last year was taken. The value of the house (Y) was estimated. The independent variables included in the analysis were the number of rooms (X₁), the size of the lot (X₂), the number of bathrooms (X3), and a dummy variable (X₁), which equals 0 if the house does not have a garage and equals 1 otherwise. a) Write out the estimated equation. b) Interpret the coefficient on the number of rooms (X₁). c) Interpret the coefficient on the dummy variable (X₂). d) Estimate the value of a house that has 9 rooms, a lot with an area of 7,500, 2 bathrooms, and 2 garages.
3. A sample of 30 houses (data set: House) that were sold in the last year was taken. The value of the house (Y) was estimated. The independent variables included in the analysis were the number of rooms (X₁), the size of the lot (X₂), the number of bathrooms (X3), and a dummy variable (X₁), which equals 0 if the house does not have a garage and equals 1 otherwise. a) Write out the estimated equation. b) Interpret the coefficient on the number of rooms (X₁). c) Interpret the coefficient on the dummy variable (X₂). d) Estimate the value of a house that has 9 rooms, a lot with an area of 7,500, 2 bathrooms, and 2 garages.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:3. A sample of 30 houses (data set: House) that were sold in the last year was taken. The value of the
house (Y) was estimated. The independent variables included in the analysis were the number of rooms
(X₁), the size of the lot (X₂), the number of bathrooms (X3), and a dummy variable (X4), which equals
0 if the house does not have a garage and equals 1 otherwise.
a) Write out the estimated equation.
b) Interpret the coefficient on the number of rooms (X₁).
c) Interpret the coefficient on the dummy variable (X₂).
d) Estimate the value of a house that has 9 rooms, a lot with an area of 7,500, 2 bathrooms, and 2
garages.
Answer:
Transcribed Image Text:Order
ANM in pr
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Value
215000
105000
172000
244000
189900
195500
213500
191500
236500
189000
175900
185000
180400
171500
212000
538000
164000
394432
141000
210000
190000
170000
216000
149000
149900
142000
126000
115000
184000
96000
Rooms
3
2
3
3
3
3
2
2
2
3
3
3
3
2
1
4
4
1
2
3
3
3
3
2
3
3
NNW NW
2
Lot Size
31770
11622
14267
11160
13830
9978
4920
5005
5389
7500
10000
7980
8402
10176
6820
53504
12134
11394
19138
13175
11751
10625
7500
11241
12537
8450
8400
10500
5858
1680
Bathroom Garage
HAFFn in in ev NNS IN
1
N
NUUNNNU P
1.5
1
2.5
2.5
2.5
N
2
2
2
2.5
2.5
2
2.5
1.5
1.5
3.5
2
1.5
1
NNP
2
2
2
2.5
1
1.5
1
NA
1.5
1
1
1
1
1
0
0
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
ононе-
1
1
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