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QUESTION

Let's assume there are no other housing qualities besides the three listed above - distance to school, number of bedrooms, and size of backyard.

Let's assume there are no other housing qualities besides the three listed above - distance to

school, number of bedrooms, and size of backyard. Also, all families prefer being closer to the

school, a greater number of bedrooms, and a larger backyard.  We assume that there is no

random noise that affects prices.

1. House 1: 3 bedrooms, Close, 1000 square foot yard. $85,000

2. House 2: 3 bedrooms, Close, 2000 square foot yard. $95,000

3. House 3: 2 bedrooms, Close, 2500 square foot yard. $80,000

4. House 4: 4 bedrooms, Distant, 2000 square foot yard. $?

If the number of bedrooms and the size of the backyard are linear in prices, and that distance

to the school is binary (and being distant" costs $0), give the prices for each attribute and for

House 4. (remember: the cost of having 0 bedrooms or 0 square feet is also 0.)

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