Question

Data were collected from a random sample of 350 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 denotes 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: Modifying the above, Price with caret equals 129.9 plus 0.529 BDR plus 25.5 Bath plus 0.170 Hsize plus 0.002 Lsize plus 0.098 Age minus 53.2 Poor, Upper R-bar squared equals 0.78, SER equals 45.2. 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 $?. (Round your response to the nearest dollar.)

          Data were collected from a random sample of 350 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 denotes 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:
Modifying the above, Price with caret equals 129.9 plus 0.529 BDR plus 25.5 Bath plus 0.170 Hsize plus 0.002 Lsize plus 0.098 Age minus 53.2 Poor, Upper R-bar squared equals 0.78, SER equals 45.2.
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 $?. (Round your response to the nearest dollar.)

Added by Krystal O.

Question

Please give Ace some feedback