PRICE SQFT PRICE 28 The variance of the intercept coefficient, var(b), is, a 49.

Question

PRICE

SQFT

PRICE

28 The variance of the intercept coefficient, var(b), is, a 49.356 b 51.953 c 54.688 d 57.566 29 The standard error of the slope coefficient is, a 0.00116 b 0.00297 c 0.04508 d 0.08339 30 cov(b, b) = ________. a -0.080238991 b -0.057313565 c -0.02046913 d -0.012281478 31 Find the elasticity of price with respect to size at SQFT = 2000 a 1.457 b 1.534 c 1.615 d 1.786 Using the WAGE/EDUC data in the DATA worksheet estimate the log-linear model, E[ln(WAGE)] = + EDUC 32 The estimated regression shows that wage rate, a Rises by about 9¢ for each additional year of education. b Rises by about $0.9 for each additional year of education. c Rises by about 9 percent for each additional year of education. d Rises by about 0.09 percent for each additional year of education.

SQFT

66.5 741 66 741 61.7 711 91.8 2505 59.4 1282 128.7 2098 89 1105 98.4 1228 108.7 1351 108.8 1351 101.3 1228 122.3 1283 88 2520 122.4 1822 150.8 2304 147.4 2471 243 5233 283.5 3452 207 2870 217.3 3441 301.5 2754 219 2918 189.9 1936 79.9 2610 123.4 2446 123 2590 143.6 3201 115.2 1174 61.2 1208 62 1090 136.4 3288 55 2410 80.9 1254 137.5 2103 132.3 1913 270.6 2933 83.6 1415 148.5 2349 85 1400 112.4 2045 108.8 2152 132 1808 134 2692 115.5 2707 81.9 1404 30.6 1000 82.4 1367 157.2 2191 178.1 2657 100.9 1514 161 2688 125.1 2218 171 1588 168 2325 163.9 2349 112.5 1694 82.5 1779 112.5 1914 117.8 1856 120.5 2167 93.5 1544 115 1918 197.1 1980 110.1 2084 206 2342 144.1 2334 114.5 2103 103.4 1625 143 2178 122 1910 173.7 2708 177.1 2662 112.4 1656 108 1678 136.6 2050 182.5 2391 228 2349 252.9 2977 249.6 3167 118.8 1686 124.9 1921 135.9 1405 142.2 2138 139.2 1990 170 2532 157.5 1868 146.6 1809 127.5 2809 98.1 1931 110 1806 110.3 1920 139.6 2885 92 1401 108.2 2241 59.4 1430 93.3 1501 89 1588 87.8 1426 110 1945 101.7 1949 89.9 1346 98.5 2296 94.5 1734 123.2 2160 104.7 2496 119 2113 128.7 2207 104.4 2073 204.6 3234 142.5 2247 138.5 1541 149.5 2712 95.4 1359 111.5 2212 130.1 1393 120.5 2055 120.9 2046 120.5 2188 119 1350 113.3 2692 125.9 2520 144 2389 151.9 3624 123.6 2627 131.9 2739 151.8 2729 137 2681 114.3 2171 106.9 1917 67.5 2065 90.5 1354 37.4 914 67.5 1321 77.5 1330 77.6 1514 87 1974 65.9 2052 37.8 1340 137.4 3209 76.5 1406 62.7 1532 93 1963 205.6 2946 134.2 2078 145.2 2372 121.5 2726 113.9 1631 92.3 1976 137.5 2673 143 2256 124.1 1436 72.5 1203 138.9 2360 98.9 1672 247.4 3911 125.4 2086 167.8 1942 133.7 1922 119 1389 119.3 1166 316.3 2296 171 2365 172.5 3310 105 2200 60 1131 63.3 2032 72.6 1360 69.9 1837 91.2 1540 41.3 1621 55.5 810 33 1579 58.2 1630 31 1590 85.5 1837 126 2014 120.5 1590 63.3 1242 142.9 1668 31.5 1543 165 1965 78 1916 140.8 2154 54 1245 159 2229 152.9 2336 127 1862 143 1613 153 1668 153 2229 172 2268 124.2 2299 159.2 2137 143 2588 57.6 1630 63 1386 32.4 810 56.3 1587 63 1800 146 1810 95 1801 93.9 1500 24.2 1555 102.6 2969 143 2136 101.7 1526 155 1757 135 1914 140.8 2347 128.9 1851 103 2246 168 1601 109.3 1150 82.8 1211 128.7 2552 146.7 2467 135.8 2212 154.7 2459 173.3 2704 165.3 2459 68.4 1777 129 2379 287.5 4033 76.1 1046 118 2798 131.9 2226 108.5 1779 151.3 2131 79.9 1009 102.6 1743 106.2 1740 100.7 1475 82.5 1753 88 1301 103.1 1772 102.1 1764 122.7 2087 126.6 2348 126.6 2348 113.1 1837 111.8 1937 100.7 1740 124.9 2156 126 2126 133.4 2175 135.5 2296 111.4 1895 115.7 1964 142.8 2583 129.8 2348 129.9 2348 145 2617 132.6 2348 146.7 2583 173.7 3110 103.5 2202 74.3 2661 110 1712 120.2 2075 128.2 2379 134.3 2296 99.7 1743 100.7 1740 101.8 1740 129.4 2182 93.6 1886 80 1486 113.9 2822 65 1214 107.8 1848 85 1300 86 2037 189 3641 94.6 1560 102 2376 40.5 1017 98 2109 60 1336 79.2 1533 89 1358 46.4 1530 76 1433 83.6 1296 80.9 1393 101.6 1094 116.9 1910 108.9 1757 109.8 1177 125.4 1918 130.7 2437 98.5 1152 62.1 1112 49.5 1430 117.9 1953 202.7 3314 137.5 2905 291.5 5157 102.6 1974 137.7 2510 158.4 2936 130.4 2805 135 2573 143.9 3291 165.2 3429 157.2 3230 216.7 3435 164.3 2770 131.9 2703 150 2800 138.6 2124 237 4244 157.5 2040 678.7 6240 163 2605 145.8 2952 253 5738 106.2 2680 461.9 6310 195.8 2675 180 2779 169.4 3497 166.2 2951 247.5 4213 104.9 2266 153 2991 126.9 1886 314.6 3311 151.3 2362 295.8 3913 143.9 2138 113.9 1759 198 4392 192.5 3557 265.5 3358 675 5858 164.9 2669 227.5 3094 118.9 1872 124 2136 173.8 3952 273.8 3527 151.7 3465 250.3 3588 192.5 3243 182.5 3171 219.9 3333 660 6731 190.3 2785 72 1958 63.9 1754 218.9 2230 248.6 3705 119.7 1778 93.5 2279 240 2848 202.5 2823 215.9 2855 179 2350 186.5 3051 183.7 2966 221.4 3033 90 2411 87.5 1463 143 2271 159.7 2502 198.2 3098 181.9 2985 117.2 2221 136.9 2240 191.4 3045 120.1 2176 148.1 2660 160.6 2790 152.4 2842 120.9 2176 180 2989 188.2 3110 176.7 3031 360 5811 110 2739 330 4249 465.2 5061 906.3 6389 175.9 3116 467.5 6813 112.5 5223 111.7 2101 56 1495 54.2 1089 114.3 1162 134.9 1179 149.9 1408 94.9 1088 85.4 979 85.4 979 94.9 1088 94.9 1088 105.5 1197 105.5 1197 105.5 1197 95.9 1088 86.3 979 105.5 1197 95.9 1088 95.9 1088 105.5 1197 86.3 979 86.3 979 95.9 1088 86.3 979 95.9 1088 95.9 1088 105.5 1197 105.5 1197 86.3 979 95.9 1088 95.9 1088 86.3 979 105.5 1197 95.9 1088 139.9 2000 132.3 1836 150 1900 231 2681 143 2178 156.2 2266 249.9 2788 89 1612 115.5 2277 62.1 1311 99 2278 73 1790 126 1405 116.6 1931 172.9 2348 138.5 1500 115.5 2542 126 2501 145.2 2847 65 1450 135 3372 104.5 1766 114 2879 51 1400 99.5 1768 129.8 2699 168.9 2685 200.2 1926 165.5 2181 65 1277 162 2313 95 2506 112.5 1445 156.9 2815 131.9 2367 99 2140 82.4 1763 182.5 3353 109.8 3375 87.3 2554 129.8 2427 24.2 1201 65.9 2299 110 1884 90.2 1217 115.1 2789 138.6 1504 82.6 2561 121 1517 78 1396 158.5 3242 101.9 2255 169.9 3212 133.2 1711 118.7 3076 159.9 2182 340 3631 187 2468 245.5 3953 330 3648 225 2450 140 2099 168.8 2298 192.2 2534 200.8 2750 227.6 2963 206.9 2435 236 2537 214 1923 190.8 1898 177.2 2716 132.3 1912 249.6 3848 170.5 2519 147.4 2671 131.7 2133 204.2 2505 159.2 1650 167.2 2534 142.5 2171 167.9 2370 135.9 2137 169.5 2482 140.7 2205 128.8 1993 155 2579 187 2730 169.9 2667 153.6 2282 182.7 2527 143.8 2116 160 2081 116.6 1713 224.3 3176 269.9 2684 136.4 2057 145.7 1479 236.5 2142 117 1705 307 4341 239.9 3400 260.2 3812 141.7 1648 375.5 3841 224.9 2654 205.2 2705 282.7 3757 241.7 2994 183.7 2562 220 2564 962.5 5929 178.2 2639 144.5 2075 209.9 2879 346.5 3520 284 3558 1732.5 8687 205.5 2947 199.1 2878 215.9 2543 240.6 3133 182 2777 206.7 3045 217.8 2837 181.5 2570 237.6 3132 178 2633 369.3 4075 372.4 4155 244.8 3029 259.1 3267 286 3653 490.1 5015 527.9 4709 314.6 3475 291 3304 261 2813 244.5 2937 324 4145 221.3 2286 175.5 2566 275 3363 239.9 3538 305.7 4224 222.2 2394 248.8 2820 270 4561 418.9 4146 206 3656 1738 8404 418 4760 430 4625 420.2 4336 251.4 3011 330 3972 252.5 3065 135 1277 107.6 1115 141.4 1394 100 1500 51.3 743 44 2567 116.5 1742 207.7 2160 120 1955 102.6 1167 131.9 1267 135 1189 46.7 1141 53 1139 27 1008 43.5 1363 50 735 35.8 1780 52.5 1425 67.1 1531 66 1279 26.4 922 125 2451 174.9 2110 120 2056 30 1305 93.7 2069 57.2 1339 114.3 1738 131 2330 119.9 1587 83.5 1442 91.4 1454 84 1040 143.9 1550 172.4 1894 124 2195 79.8 1740 76.5 1241 260.7 2892 260.2 3026 162 1383 192.5 2690 121.5 2141 149 2107 135 1800 161 1380 155.3 1325 64.4 1589 69 1364 130.4 1688 150 2248 255 3074 169 2314 124 2136 27 1117 82.4 1881 104.4 1562 72 1175 73.4 1007 39.1 1524 92.4 1794 116.1 2815 401 5017 112.5 2786 261 1660 42.1 1637 64.9 1918 159.5 1316 126 1260 155 1196 155 1400 155 1196 144 1260 144 1076 332 3670 142.9 3157 120 2433 119.9 2363 138.6 2925 145.2 2098 145 2529 171.6 2745 105.6 1740 89.1 1342 118.8 1812 107 1547 182 2911 150.9 1949 147 2236 173.8 2426 192.4 2543 233.5 3166 220 3380 133 2886 105.8 2786 119.9 1769 166.5 1887 27.9 1164 103 1960 99.6 1791 119.7 1741 112.1 2081 74.4 956 163.4 2978 104 2613 159.8 2763 197.9 3773 52.8 792 152.5 1320 58.4 930 113.9 2057 144.9 2434 116.6 2021 250.8 4111 101.7 2520 141 2276 145.2 2878 104.5 2009 22.5 1421 205.9 3460 216 2255 59.4 3222 1134 6524 295 7790 575 5956 1400 6397 98.9 1883 41 1296 37.4 728 101.3 1652 112.1 1760 116.5 2297 136 2791 128.7 2193 135 2306 106.2 2243 111.6 1721 117 1955 108 1516 342.1 4351 137 2481 137.5 2462 108 2418 109.8 2084 159.8 2718 128.3 2424 168 2985 266.9 5140 258.5 4360 119.8 1931 114.5 1874 103.5 1798 105 1724 108 1681 137.5 2301 114.4 1665 95.3 1490 101.6 1145 105.6 1804 148.5 2926 126.4 2110 176 2651 175.5 3013 115.5 2158 110.6 2313 135.3 1632 130.9 2305 135 2412 129 1907 194.7 3163 129.2 1951 259.7 2394 104 1488 176 3043 178.2 2144 31.9 1993 103.4 2876 138.6 1544 156.8 2433 52 960 202.4 2231 115.5 1505 111 1487 88.5 1317 154.8 2343 127.8 2019 82 1256 130.6 1833 117 2615 80.5 1334 170 3112 82.8 1215 129.8 2246 197.9 3824 167.6 2787 161.5 2936 332.7 4988 478.5 3351 124.2 2367 173.7 2777 162.8 3657 231 3376 204.8 2832 190 2635 290.7 4047 320 4411 220.5 2702 236.5 5411 197.1 4325 166.5 4139 1280 7086 111.4 2833 411.4 6823

Explanation / Answer

b) The standard error of the slope coefficient is, 0.00297  

Descriptive Statistics
Mean   Std. Deviation   N
Price   1.5751E2   138.75669   790
SQFT   2.3276E3   1062.85856   790

   Correlations
Price   SQFT
Pearson Correlation   Price   1.000   .770
SQFT   .770   1.000
Sig. (1-tailed) Price   .   .000
SQFT   .000   .
N Price   790   790
SQFT   790   790

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