Answer to Question #120585 in Statistics and Probability for naira

Question

data was collected from a random sample of 330 home sales from a community in 2003. Let Price denote the selling price (in $1,000), BDR denote the number of bedrooms, Bath denote the number of bathrooms, Hsize denote the size of the house (in square feet), Lsize 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 1 if the condition of the house is reported as "poor."
An estimated regression yields: Price with caret equals 108.6 plus 0.561 BDR plus 26.6 Bath plus 0.237 Hsize plus 0.002 Lsize
plus 0.1 Age minus 56.3 Poor comma Upper R overbar squared equals 0.84 comma SER equals 45.3.
Suppose that a homeowner converts part of an existing family room in her house into a new bathroom. What is the expected increase in the value of the house?
The expected increase in the value of the house is $
nothing. (Round your response to the nearest dollar.)

Answer 1

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