Question 2. (10 points) The scatter plot below shows the relationship between price, in thousands of dollars, and mileag

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Question 2 10 Points The Scatter Plot Below Shows The Relationship Between Price In Thousands Of Dollars And Mileag 1 (134.86 KiB) Viewed 90 times

Question 2. (10 points) The scatter plot below shows the relationship between price, in thousands of dollars, and mileage, number of miles driven in thousands, for two types of used cars (Honda Accord and Toyota Maxima). The data were obtained from the website cars.com. 20 Car Type Accord . Maxima 10- 150 50 100 Mileage (a) Below is the R summary output for a multiple regression model with price as the response, and mileage and car-type as predictors. car_type is an indicator variable that is 1 for a Toyota Maxima, and 0 for a Honda Accord. Write the equation for the estimated regression model. The model describes two parallel lines; what are the equations for these two lines? (Intercept) mileage car_type Estimate Std. Error t value Pr(>) 21.10407 0.75663 27.892 <2e-16 *** -0.12521 0.01034 -12.115 <2e-16 *** 1.54060 0.71458 2.156 0.0353 * (b) Below is the R summary output for a multiple regression model with price as the response, and mileage, car-type, and the interaction between mileage and car-type as predictors. Write the equation for the estimated regression model. The model describes two unrelated lines (with different slopes and intercepts); what are the equations for these two lines? Is the interaction term significant in the model? Estimate Std. Error t value Pr(>ltl) (Intercept) 20.80961 0.85750 24.268 < 2e-16 *** -0.11981 0.01268 -9.445 3.47e-13 *** car_type 2.46161 1.43629 1.714 0.0921 mileage:car_type -0.01632 0.02205 -0.740 0.4623 mileage