The Honda Accord Was Named The Best Midsized Car For Resale Value For 2018 By The Kelley Blue Book Kelley Blue Book Web 1 (47.41 KiB) Viewed 63 times
The Honda Accord Was Named The Best Midsized Car For Resale Value For 2018 By The Kelley Blue Book Kelley Blue Book Web 2 (40.39 KiB) Viewed 63 times
The Honda Accord was named the best midsized car for resale value for 2018 by the Kelley Blue Book (Kelley Blue Book website). The file AutoResale contains mileage, age, and selling price for a sample of 33 Honda Accords. Click on the datafile logo to reference the data. DATA file a. Develop an estimated regression equation that predicts the selling price of a used Honda Accord given the mileage and age of the car (to 2 decimals). Enter negative value as negative number. Selling price 20385.2504 + -0.03739 Mileage + -686.33668 Age b. Is multicollinearity an issue for this model? Find the correlation between the independent variables to answer this question (to 2 decimals). The correlation between age and mileage is 0.9752 1. Since the correlation between the independent variables is less than 0.70, we conclude that multicollinearity is an issue. II. Since the correlation between the independent variables is less than 0.70, we conclude that multicollinearity is not an issue. III. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is an issue. IV. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is not an issue. 11 c. Use the F test to determine the overall significance of the relationship (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use F table. Significance at a = 0.05 F value p-value Overall Model 290.85 less than 0.01 significant d. Use the t test to determine the significance of each Independent variable (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use t table. Enter negative value as negative number.
I. Since the correlation between the Independent variables is less than 0.70, we conclude that multicollinearity is an issue. II. Since the correlation between the independent variables is less than 0.70, we conclude that multicollinearity is not an issue. III. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is an issue. IV. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is not an issue. 11 c. Use the F test to determine the overall significance of the relationship (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use F table. Significance at a 0.05 F value p-value Overall Model 290.85 less than 0.01 significant d. Use the t test to determine the significance of each independent variable (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use t table. Enter negative value as negative number. Significance at a 0.05 t value p-value Select your answer Select your answer Mileage Age Select your answer- Select your answer Hide Feedback Partially Correct
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