House price y is estimated as a function of the square footage of a house x, a dummy variable d that equals1 if the house has ocean views and 0 otherwise; and a product of this dummy and the square footage xd.The estimated house price, measured in $1,000s, is given by 3 = 69 + 0.15x + 42d + 0.03xd.a. Compute the predicted price of a house with ocean views and square footage of 2,100 and 3,100,respectively. (Round your final answers to the nearest whole number.)Square Footage2,10024thousand3,100%24thousandb. Compute the predicted price of a house without ocean views and square footage of 2,100 and 3,100,respectively. (Round your final answers to the nearest whole number.)Square Footage2,100thousand3,100thousandc. Discuss the impact of ocean views on the house price.• As square footage increases, the price difference between houses with and without ocean viewsbecomes larmer as well

The function for estimating the house price (in $1000s) is given as: y^=69+0.15x+42d+0.03xd. The…

Answered: House price y is estimated as a…

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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The following data was collected to explore how the number of square feet in a house, the number of bedrooms, and the age of the house affect the selling price of the house. The dependent variable is the selling price of the house, the first independent variable (x1�1) is the square footage, the second independent variable (x2�2) is the number of bedrooms, and the third independent variable (x3�3) is the age of the house. Effects on Selling Price of Houses Square Feet Number of Bedrooms Age Selling Price 11191119 33 33 100900100900 13081308 33 44 119800119800 14521452 33 66 189800189800 16931693 33 66 190500190500 20052005 33 66 196900196900 22102210 33 99 216600216600 23012301 44 99 250900250900 23452345 44 1010 267800267800 28532853 55 1313 270000270000 Copy Data Step 1 of 2 : Find the p-value for the regression equation that fits the given data. Round your answer to four decimal places
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