Refer to Problem 3.14. Now, use the log of the housing price as the dependent variable:
log(price) = (0 + (1 sqrft + bdrms + u.
(i) You are interested in estimating and obtaining a confidence interval for the percentage change in price when a 150-square-foot bedroom is added to a house. In decimal form, this is 0, = 150(1 + (2. Use the data in HPRICE1.RAW to estimate (1.
(ii) Write (2 in terms of (1 and (1 and plug this into the log(price) equation.
(iii) Use part (ii) to obtain a standard error for 0, and use this standard error to construct a 95% confidence interval.