Question
YOU CAN USE STATA or any other software like eminitabs, R, etc.
HPRICE11.RAW: 88 observations with 4 columns: price (in dollars), bdrms (number of bedrooms), lotsize (size of lot in square feet) and sqrft (size of house in square feet) 1. Do a regression of price on the other variables. Get estimates for the coefficients of bdrms, lotsize and sqrft. Is there any correlation between number of bedrooms and house size? 2. Is the number of bedrooms significant at 5% (helps to explain house price), what is the minimum significance level for which bdrms helps to explain the response. What would be the expected change in the price of a house if we increase the number of bedrooms by 1 unit 3. Generate a new variable for the log(price and run a new regression of log(price) on bdrms, lotsize, and sqrft. What would be the expected change in the price of a house if we increase the number of bedrooms by 1 unit. Is the number of bedrooms a significant explanatory variable (helps to explain house price) 4. Go back to original regression of price (question l). Are lotsize and sqrftjointly significant at 5% to explain price.
Explanation / Answer
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