Question: A realtor in Arlington Massachusetts is analyzing the relationship between

A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 recent sales in Arlington in the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table; the entire data set, labeled Arlington_Homes, can be found on the text website.

a. Estimate the model Price = β0 + β1Sqft + β2Beds + β3Baths + .
b. Interpret the slope coefficients.
c. Predict the price of a 2,500-square-foot home with three bedrooms and twobathrooms.

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  • CreatedJanuary 28, 2015
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