Econometrics: House Princing
Autor: prpwp • August 8, 2016 • Coursework • 2,522 Words (11 Pages) • 1,039 Views
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. reg lnprice salemonth floorarea floorarea2 landarea decadeblt doctdrive medhhinc06 goodwater
> if floorarea < 260
Source | SS df MS Number of obs = 900
-------------+------------------------------ F( 8, 891) = 149.52
Model | 50.1657152 8 6.2707144 Prob > F = 0.0000
Residual | 37.366636 891 .041937863 R-squared = 0.5731
-------------+------------------------------ Adj R-squared = 0.5693
Total | 87.5323512 899 .097366353 Root MSE = .20479
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lnprice | Coef. Std. Err. t P>|t| [95% Conf. Interval]
-------------+----------------------------------------------------------------
salemonth | .009174 .0020227 4.54 0.000 .0052041 .0131438
floorarea | .008777 .0011286 7.78 0.000 .006562 .0109921
floorarea2 | -.0000141 3.74e-06 -3.79 0.000 -.0000215 -6.81e-06
landarea | -4.50e-06 .0000288 -0.16 0.876 -.000061 .000052
decadeblt | .0010913 .0003927 2.78 0.006 .0003206 .001862
doctdrive | -.0545299 .0073669 -7.40 0.000 -.0689885 -.0400713
medhhinc06 | 5.90e-06 4.77e-07 12.35 0.000 4.96e-06 6.83e-06
goodwater | .0189917 .0245438 0.77 0.439 -.0291788 .0671621
_cons | 9.14248 .7663252 11.93 0.000 7.638467 10.64649
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salemonth
The estimated coefficient on salemonth indicates that a house sold during an extra month into the year’s sale price was 0.9216% (e^0.009174 - 1) greater than it would have been if sold during the month before, holding all else constant. This coefficient is statistically significantly different from zero at the 0.1% level of significance.
floorarea
The estimated coefficient on floorarea indicates that if house has an extra square meter of floor area, the sale price would increase by 0.8816% (e^0.008777 - 1), holding all else constant. This coefficient is statistically significantly different from zero at the 0.1% level of significance.
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