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In: Statistics and Probability

A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home...

A realtor in Arlington, Massachusetts, is analyzing the relationship between the sale price of a home (Price in $), its square footage (Sqft), the number of bedrooms (Beds), and the number of bathrooms (Baths). She collects data on 36 sales in Arlington in the first quarter of 2009 for the analysis. A portion of the data is shown in the accompanying table.

Price Sqft Beds Baths
672000 2214 4 2.0
758769 2308 5 1.0
831833 2800 4 3.0
689000 2200 3 2.5
685000 2716 3 3.5
645000 2524 3 2.0
625000 2732 4 2.5
620000 2436 4 3.5
783333 2800 4 2.0
585000 1947 3 1.5
583000 2224 3 2.5
379333 2175 3 1.0
546000 1792 3 2.0
780000 2149 4 2.5
732273 3964 4 3.5
344000 1301 3 1.0
511000 1752 3 1.5
714000 2418 4 3.0
693000 2369 4 3.0
648200 2400 4 3.0
639800 2310 4 3.0
451000 1685 3 2.0
628333 2167 4 2.5
431700 1896 2 1.5
414000 1182 2 1.5
602250 1728 4 2.0
478800 1660 4 2.0
380000 1344 4 2.0
475000 1590 3 2.0
375900 2275 5 1.0
372000 1005 2 1.0
459375 1590 3 2.0
356500 1431 2 2.0
412500 1703 3 2.0
412500 1831 3 2.0
307500 850 1 1.0

a. Estimate the model Price =  β0 + β1Sqft + β2Beds + β3Baths + ε. (Round Coefficients to 2 decimal places.)

Intercept. Coefficients for each?

Sqft

Beds

Baths

b. Predict the price of a 2,112 square-foot home with two bedrooms and one bathrooms. (Round coefficient estimates to at least 4 decimal places and final answer to the nearest whole number.)

$___?

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