Click on the datafile logo to reference the data. DATA file a. Develop an estimated regression equation that predicts th
Posted: Sun May 08, 2022 9:43 am
- Click On The Datafile Logo To Reference The Data Data File A Develop An Estimated Regression Equation That Predicts Th 1 (79.57 KiB) Viewed 31 times
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 = 20385.25 + --03739 Mileage + -686.34 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 .67 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. II 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 Ftable. Significance F value p-value at a = 0.05 Overall Model less than 0.01 290.8 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 t value p-value at = 0.05 Mileage .0002 less than 0.01 significant Age less than 0.01 significant Hide Feedback
с Age 1 2 3 4 5 3 3 3 4 7 4 5 o 09 D 8 6 4 8 8 5 11 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 4 Price 16998 17599 15998 15998 11599 13998 14998 11599 12599 14998 15998 11599 10499 14599 10599 16998 20998 11599 12599 13599 11599 9599 18998 12599 12599 10998 11998 12998 17599 9998 9998 16998 17599 B Mileage 35000 16000 42000 61000 102000 109000 60000 88000 58000 27000 32000 95000 123000 54000 68000 40000 7000 81000 70000 86000 92000 120000 20000 63000 70000 88000 86000 60000 45000 96000 60000 36000 45000 1 9 6 5 7 10 2 7 6 10 6 6 2 11 11 2 2 ar