10 Using a sample of 546 observations, a researcher is interested in finding factors that influence house prices (measured in ten thousands). The researcher run regression of Hedonic price model that explain house prices using lot size, bed rooms, bath rooms, stories all are measured in number of units and dummy variables 2 whether the house has air-conditioning, drive way, recreation room, glass show , full basement, garage place and preferred area the results are shown below. . reg price lotsize bedrooms bathrms airco driveway recroom fullbase gashw garagepl prefarea storiesSourcedfMSNumber of obs546F (11, 534)99.97Model2.6158e+11112.3780e+10Prob > F0.0000Residual1.2703e+11534237874666R-squared0.6731Adj R-squared0.6664Total3.8860e+11545713032635Root MSE15423priceCoef.Std. Err.P>|t]|[95% Conf. Interval]lotsize3.546303.350310.120.0002.8581684.234438bedrooms1832.00310471.750.081-224.74093888.748bathrms14335.561489.9219.620.00011408.7317262.38airco12632.891555.0218.120.0009578.18215687.6driveway6687.7792045.2463.270.0012670.06510705.49recroom4511.2841899.9582.370.018778.97598243.592fullbase5452.3861588.0243.430.0012332.8458571.926gashw12831.413217.5973.990.0006510.70619152.11garagepl4244.829840.54425.050.0002593.655896.008prefarea9369.5131669.0915.610.0006090.72412648.3stories6556.946925.28997.090.0004739.2918374.6cons-4038.353409.471-1.180.237-10735.972659.271b. Write one equation for auxiliary regression for testing multi-collinearity? Statethe conditionfor the existence of multi-collinearity?c. Assuming there is no risk of hetroskedasticity answer the followingquestionsi.Interpret R2ii.Are all the variables jointly different from zero?

Given information Sample size =546 Dependent variable is house price There are 11 independent…

Using a sample of 546 observations, a researcher is interested in finding factors that influence house prices (measured in ten thousands). The researcher run regression of Hedonic price model that explain house prices using lot size, bed rooms, bath rooms, stories all are measured in number of units and dummy variables 2 whether the house has air-conditioning, drive way, recreation room, glass show , full basement, garage place and preferred area the results are shown below.

Using a sample of 546 observations, a researcher is interested in finding factors that influence house prices (measured in ten thousands). The researcher run regression of Hedonic price model that explain house prices using lot size, bed rooms, bath rooms, stories all are measured in number of units and dummy variables 2 whether the house has air-conditioning, drive way, recreation room, glass show , full basement, garage place and preferred area the results are shown below.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?

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