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Econometrics: House Princing

Autor:   •  August 8, 2016  •  Coursework  •  2,522 Words (11 Pages)  •  1,032 Views

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i)

. 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

------------------------------------------------------------------------------

     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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