Using all the observations in your sample, construct a 95% confidence interval for the expected price of

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Question:

Using all the observations in your sample, construct a 95% confidence interval for the expected price of a randomly selected house.

Show your workings. Be sure to state the upper and lower bounds of the confidence interval and interpret your results.

Hint: You will need to find the exact critical value to use in your confidence interval calculations. To do open Gretl, then go to Tools --> Statistical Tables.

(Above is the question below is the data )

This file contains data on 1000 houses sold in the suburbs of a large U.S. city in 2021.

Use the data to answer questions 1 to 7 below.
You may use Gretl to estimate all models.
All numerical answers should be stated to 2 decimal places.

The full list of variables and variable descriptions are as follows:

PRICE = sale price, dollars
BEDROOMS = number of bedrooms
BATHS = number of full baths
SQFT = total square feet
FLOOR = number of floors
WATERFRONT = 1 if on the waterfront
CONDITION = rating of condition on a scale of 1 to 5
YR_BUILT = year of construction