Question: > 1. (21 points) Data were collected from a random sample of 220 home sales from a community in 2015. Let price denote the selling


> 1. (21 points) Data were collected from a random sample of 220 home sales from a community in 2015. Let price denote the selling price (in $1000), bdrms denote the number of bedrooms, bath denote the number of bathrooms, sqrft denote the size of the house (in square feet), lotsize denote the lot size (in square feet), age denote the age of the house (in years), and poor denote a binary variable that is equal to one if the house is reported as poor. An estimated regression yields > price = 119.2 + 0.485 bdrms + 23.4 bath +0.156 sqrft + 0.002 lotsize + 0.090 age 48.8 poor (23.9) (2.61) (8.94) (0.011) (0.00048) (0.311) (10.5) R2= 0.72, 3 = 41.5, = where the standard errors are in parentheses. e. (4) Interpret the coefficient of bdrms. Is the coefficient on bdrms statistically significant from zero? Carry out a test. f. (3) Typically, five-bedroom houses sell for much more than two-bedroom houses. Is this consistent with your answer to part e? Explain. g. (5) Test for the overall significance of the model
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