Beds 4 5 4 3 3 3 4 Baths 2.0 1.0 3.0 2.5 3.5 2.0 2.5 3.5 2.0 1.5 2.5 1.0 2.0 2.5 3.5 4 4 3 3 3 3 4 4 3 3 Price 672000 758769 831833 689000 685000 645000 625000 620000 783333 585000 583000 379333 546000 780000 732273 344000 511000 714000 693000 648200 639800 451000 628333 431700 414000 602250 478800 380000 475000 375900 372000 459375 356500 412500 412500 307500 Sqft 2214 2308 2800 2200 2716 2524 2732 2436 2800 1947 2224 2175 1792 2149 3964 1301 1752 2418 2369 2400 2310 1685 2167 1896 1182 1728 1660 1344 1590 2275 1005 1590 1431 1703 1831 850 4 4 4 4 3 4 1.0 1.5 3.0 3.0 3.0 3.0 2.0 2.5 1.5 1.5 2.0 2.0 2.0 2.0 1.0 2 2 4 4 4 3 5 2 3 2 1.0 2.0 2.0 2.0 2.0 3 3 1 1.0 Chapter 14 - Sections 1 and 2 - Questions i Saved 9 A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington i the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table. 10 points Price 672,000 758,769 Soft 2,214 2,308 Skipped Beds Baths 2.0 5 1.0 . 1 1.0 307,500 850 eBook Click here for the Excel Data File a. Estimate the model Price = Bo + B1 Sqft + B2Beds + B3 Baths + E. (Round Coefficients to 2 decimal places.) Print Coefficients References Intercept Sqft Beds Baths b-1. Interpret the coefficient of sqft. O For every additional square foot, the predicted price of a home increases by $115.34. For every additional square foot, the predicted price of a home increases by $115.34, holding number of bedrooms and bathrooms constant. O For every additional square foot, the predicted price of a home increases by $115.34, holding square foot, number of bedrooms and bathrooms constant. References References b-2. Interpret the coefficient of beds. O For every additional bedroom, the predicted price of a home increases by $38,089.91. O For every additional bedroom, the predicted price of a home increases by $38,089.91, holding square footage and number of baths constant. O For every additional bedroom, the predicted price of a home increases by $38,089.91, holding square foot, number of bedrooms and bathrooms constant. b-3. Interpret the coefficient of baths. O For every additional bathroom, the predicted price of a home increases by $51,862.14. O For every additional bathroom, the predicted price of a home increases by $51,862.14, holding square footage and number of bedrooms constant. O For every additional bathroom, the predicted of a home increases $51,862.14, holding square foot, number of bedrooms and bathrooms constant. c. Predict the price of a 2,112 square-foot home with two bedrooms and one bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Price $ O Beds 4 5 4 3 3 3 4 Baths 2.0 1.0 3.0 2.5 3.5 2.0 2.5 3.5 2.0 1.5 2.5 1.0 2.0 2.5 3.5 4 4 3 3 3 3 4 4 3 3 Price 672000 758769 831833 689000 685000 645000 625000 620000 783333 585000 583000 379333 546000 780000 732273 344000 511000 714000 693000 648200 639800 451000 628333 431700 414000 602250 478800 380000 475000 375900 372000 459375 356500 412500 412500 307500 Sqft 2214 2308 2800 2200 2716 2524 2732 2436 2800 1947 2224 2175 1792 2149 3964 1301 1752 2418 2369 2400 2310 1685 2167 1896 1182 1728 1660 1344 1590 2275 1005 1590 1431 1703 1831 850 4 4 4 4 3 4 1.0 1.5 3.0 3.0 3.0 3.0 2.0 2.5 1.5 1.5 2.0 2.0 2.0 2.0 1.0 2 2 4 4 4 3 5 2 3 2 1.0 2.0 2.0 2.0 2.0 3 3 1 1.0 Chapter 14 - Sections 1 and 2 - Questions i Saved 9 A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington i the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table. 10 points Price 672,000 758,769 Soft 2,214 2,308 Skipped Beds Baths 2.0 5 1.0 . 1 1.0 307,500 850 eBook Click here for the Excel Data File a. Estimate the model Price = Bo + B1 Sqft + B2Beds + B3 Baths + E. (Round Coefficients to 2 decimal places.) Print Coefficients References Intercept Sqft Beds Baths b-1. Interpret the coefficient of sqft. O For every additional square foot, the predicted price of a home increases by $115.34. For every additional square foot, the predicted price of a home increases by $115.34, holding number of bedrooms and bathrooms constant. O For every additional square foot, the predicted price of a home increases by $115.34, holding square foot, number of bedrooms and bathrooms constant. References References b-2. Interpret the coefficient of beds. O For every additional bedroom, the predicted price of a home increases by $38,089.91. O For every additional bedroom, the predicted price of a home increases by $38,089.91, holding square footage and number of baths constant. O For every additional bedroom, the predicted price of a home increases by $38,089.91, holding square foot, number of bedrooms and bathrooms constant. b-3. Interpret the coefficient of baths. O For every additional bathroom, the predicted price of a home increases by $51,862.14. O For every additional bathroom, the predicted price of a home increases by $51,862.14, holding square footage and number of bedrooms constant. O For every additional bathroom, the predicted of a home increases $51,862.14, holding square foot, number of bedrooms and bathrooms constant. c. Predict the price of a 2,112 square-foot home with two bedrooms and one bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.) Price $ O