A researcher runs the following hedonic model with the Eviews output presented below. log(selling price) =...
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A researcher runs the following hedonic model with the Eviews output presented below. log(selling price) = b + b₁ log(SFLA) + b₂BEDS + b3BATHS + b²STORIES +b5VACANT + b Age + e Dependent Variable: LOG(SELLING_PRICE) Method: Least Squares Date: 08/03/21 Time: 16:44 Sample: 1 6660 IF YEAR-2001 Included observations: 1746 Variable C LOG(SFLA) BEDS BATHS STORIES VACANT AGE R-squared Adjusted R-squared S.E. of regression Sum squared resid Log likelihood F-statistic Prob(F-statistic) Coefficient Std. Error t-Statistic 5.585555 0.167097 33.42708 0.927219 0.026792 34.60855 -0.070723 0.009522 -7.427548 0.033151 0.015441 2.146881 -0.016338 0.015059 -1.084936 0.708301 Mean dependent var 0.707295 S.D. dependent var Akaike info criterion Schwarz criterion 0.201323 70.48308 324.6102 Hannan-Quinn criter. 703.7708 Durbin-Watson stat 0.000000 Prob. -0.038751 0.011280 -3.435469 0.0006 -0.004138 0.000264 -15.64540 0.0000 0.0000 0.0000 0.0000 0.0319 0.2781 12.01860 0.372115 -0.363815 -0.341904 -0.355714 1.326302 (3) Interpret the coefficient of LOG(SFLA) (i.e., log of the square foot living area). [2] A researcher runs the following hedonic model with the Eviews output presented below. log(selling price) = b + b₁ log(SFLA) + b₂BEDS + b3BATHS + b²STORIES +b5VACANT + b Age + e Dependent Variable: LOG(SELLING_PRICE) Method: Least Squares Date: 08/03/21 Time: 16:44 Sample: 1 6660 IF YEAR-2001 Included observations: 1746 Variable C LOG(SFLA) BEDS BATHS STORIES VACANT AGE R-squared Adjusted R-squared S.E. of regression Sum squared resid Log likelihood F-statistic Prob(F-statistic) Coefficient Std. Error t-Statistic 5.585555 0.167097 33.42708 0.927219 0.026792 34.60855 -0.070723 0.009522 -7.427548 0.033151 0.015441 2.146881 -0.016338 0.015059 -1.084936 0.708301 Mean dependent var 0.707295 S.D. dependent var Akaike info criterion Schwarz criterion 0.201323 70.48308 324.6102 Hannan-Quinn criter. 703.7708 Durbin-Watson stat 0.000000 Prob. -0.038751 0.011280 -3.435469 0.0006 -0.004138 0.000264 -15.64540 0.0000 0.0000 0.0000 0.0000 0.0319 0.2781 12.01860 0.372115 -0.363815 -0.341904 -0.355714 1.326302 (3) Interpret the coefficient of LOG(SFLA) (i.e., log of the square foot living area). [2]
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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