As an example, consider the following equation: log(price) = β0 + β1log(assess) + β2log(lotsize) + β3log(sqrft) + β4bdrms + u where: • price, house price. • assess, the assessed housing value (before the house was sold). • lotsize, size of the lot, in square feet. • sqrft, square footage. • bdrms, number of bedrooms