Model 1 is fitted to log rent. How should the estimated coefficient of −0.0271 for distance_km in Output 4.1 be interpreted?

Question

Model 1 is fitted to log rent. How should the estimated coefficient of −0.0271 for  distance_km  in Output 4.1 be interpreted?

Answer

Rent falls by $0.0271 for every extra kilometre, for apartments with the same parking status.

Answer

Mean rent is about 2.7% lower per extra kilometre, for apartments with the same parking.

Answer

The probability that an apartment has parking falls by 2.7% for each extra kilometre.

Answer

Every extra kilometre from the CBD makes the rent of each apartment fall by 2.7%.

Answer

Rent is 2.7% lower for apartments with parking than for apartments without parking.

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