Suppose you are interested in studying the factors that influence housing prices across neighborhoods. You would like to study the following population model: price = Bo + B, nox + B2 crime + B3 rooms + B4 dist + Bs stratio + u where
price = median housing price
nox = amount of nitrogen oxide in the air
crime = number of crimes reported per capita
dist = weighted distance of the community from five employment centers, in miles
rooms = average number of rooms in houses in the community
stratio = average student-teacher ratio of schools in the community
You then estimate the regression model using beta coefficients. The results are as follows: zprice -0.39 znox - 0.167 zcrime 0.597 zrooms - 0.324 zdist - 0.235 zstratio the median home price by
According to an increase in rooms of one standard deviation the median home price by.