Table gives the selling price (Price, expressed in thousands of dollars), the square footage (SqrFt), the number
a. Noting that β4 is the effect on mean sales price of a home having a pool, find (on the output) a point estimate of this effect. If the average current purchase price of the pools in the sample is $ 32,500, find a point estimate of the percentage of a pool’s cost that a customer buying a pool can expect to recoup when selling his ( or her) home.
b. If we add various combinations of the interaction terms SqrFt X Pool?, Bathrooms Pool?, and Niceness X Pool? to the above model, we find that the p-values related to these terms are greater than .05. What does this imply?
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