Midterm for DAT 301

Research check-in 2

Hedonic pricing is a method used to estimate the value of a good by decomposing it into the attributes that make it up. In housing markets, the observed house price reflects both structural characteristics and neighborhood characteristics. This report examines the `hprice2` dataset from the `wooldridge` package to investigate the relationship between housing prices and several neighborhood and property characteristics. Research question: What is the impact of the crime rate on the median house price in a given area, holding other factors constant? The analysis uses multiple linear regression to estimate the effect of crime while controlling for other relevant variables.