a. To estimate the model and predict lprice when age=10, rooms=6, and area=2,000, substitute these values into the equation:
lprice = -0.300age - 0.199Zrooms + 0.598Zarea
Substituting age=10, rooms=6, and area=2,000:
lprice = -0.300(10) - 0.199(6) + 0.598(2000)
= -3 - 1.194 + 1196
= 191.806
So the predicted lprice is approximately 191.806.
b. To predict house price from the estimated model in part (a), which uses log(house price in dollars) as the dependent variable, we can transform the predicted lprice back to the original scale using exponential function.
house price = exp(lprice)
Using the predicted lprice value from part (a):
house price = exp(191.806)
Please note that without further information about the data or access to additional variables and statistical analysis, it may not be possible to provide an accurate prediction for house prices based solely on this single regression equation.
内容由零声教学AI助手提供，问题来源于学员提问
