Suppose you have the following regression results from a regression of home prices on house attributes for a random sample of house transactions: CoefficientsStandard ErrorIntercept16310.04114.5Number of Bedrooms7295.31399.9Number of Bathrooms23473.04032.0r-squared = 0.302 Adjusted r-squared = 0.299If we assume that the proper model to predict the market value of houses is given by this regression, and thus we are getting unbiased estimates of the true relationships between number of bedrooms/bathrooms and sales price, what is the effect on sales price of increasing the number of bathrooms in a house by one, holding number of bedrooms fixed?
A. Approximately, $16,310 dollars.
B. Approximately, an increase of 30%.
C. Approximately, $ 7,295 + 23,473 = $30,768.
D. Approximately, $23,473.
Answer: D
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