Question

Question 9 1 pts An analysis was done to predict log(price) of homes in Gainesville during Spring 2019 based on number of beds and baths along with an indicator variable for NorthWest. The indicator variable was 1 if in the Northwest of Gainesville and 0 otherwise. 4 Summary of Fit RSquare 0.625955 RSquare Adj 0.618242 Root Mean Square Enor 162.6966 Mean of Response 415.5921 Observations (or Sum Wgts) 100 4 Analysis of Variance Sum of Source DF Squares Mean Square F Ratio Model 2 4296819.7 2148410 81.1634 Error 97 25676082 26470 Prob > F C. Total 99 68644279 <.0001 A Parameter Estimates Term Estimate Std Errort Ratio Prob> It! Intercept -258.5349 66.16447 -3.91 0.0002* BEDS_BATHS 109.02083 9.123665 11.95 .0001 NorthWest -66.21429 33.20901 -1.99 0.0490* How would you interpret the slope coefficient for North West? O The price of homes in the North West are 66.21 dollars lower than elsewhere in town for a given number of beds and baths. The slope for beds and baths versus square footage is increased by 66.21. O The price of homes in the NorthWest are 66.21 dollars more than elsewhere in town for a given number of beds and baths. The slope for beds and baths versus square footage is decreased by 66.21.

Answer 1

9)since coefficient for northwest is - 66.21

The price of homes in the North West are 66.21 dollars lower than elsewhere in town for a given number of beds and baths.

10)since interaction term is negative( -0.015)

The slope of the relationship between firstfloorsquarefootage and price is less steep for homes in the NorthWest than elsewhere in Gainesville.