AHC is considering a new development in which some homes would have access to an ocean view and others would not. You are asked to provide a general estimate in terms of the value that the presence of an ocean view adds to the selling price of a resale home. Analyze the data using whatever approach you choose and recommend what you believe the premium should be for an ocean view? Observation Selling Price without Ocean View Selling Price with Ocean View 1 $ 750,000 $ 1,749,900 2 $ 799,000 $ 1,249,999 3 $ 850,000 $ 1,369,000 5 $ 590,000 $ 2,700,000 6 $ 1,625,000 $ 959,000 8 $ 1,999,999 $ 2,545,000 9 $ 700,000 $ 595,000 10 $ 1,695,000 $ 809,900 11 $ 1,475,000 $ 2,690,000 12 $ 997,000 $ 2,199,000 13 $ 885,900 $ 1,275,000 14 $ 1,200,000 $ 699,000 15 $ 850,000 $ 975,000 16 $ 1,850,000 $ 1,599,000 17 $ 766,900 $ 1,260,000 19 $ 598,000 $ 1,925,000 21 $ 999,990 $ 2,100,000 22 $ 1,092,200 $ 1,275,000 23 $ 1,100,000 25 $ 1,249,000