Home price y is estimated as a function of the square footage of a house x and a dummy variable d that equals 1 if the house has mountain views. The estimated house price, measured in $1,000s, is given by y = 118.90 + 0.12x + 52.60d. In all scenarios, round intermediate calculates to 4 decimal places and round your answer to 2 decimal places. What is the predicted price (in $1,000s) of a house with mountain views and 2,000 square feet? What is the predicted price (in $1,000s) or a house without mountain views 2,000 square feet? In $1,000s, how much does a mountain view influence the price of a home?

Home price y is estimated as a function of the square footage of a house x and a dummy variable d that equals 1 if the house has mountain views. The estimated house price, measured in $1,000s, is given by y = 118.90 + 0.12x + 52.60d. In all scenarios, round intermediate calculates to 4 decimal places and round your answer to 2 decimal places. What is the predicted price (in $1,000s) of a house with mountain views and 2,000 square feet? What is the predicted price (in $1,000s) or a house without mountain views 2,000 square feet? In $1,000s, how much does a mountain view influence the price of a home?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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