Thirty homes that were for sale in Aimes, lowa in 2010 were randomly selected. A regression model to predict house price was run based on year built and the indicator variable for fireplace (1 if there was a fireplace, o if not).
Term Estimate Std. Error
Intercept -3,067,636 949,884.9
year built 1.631.09 485.65
fireplaces 64.114.256 29,944.06
Find the predicted house price for a house built in 1,970 and with a fireplace. Round your answer to two decimal points.