Question
Consider the data in the following table regarding the age of a particular model of car...
Consider the data in the following table regarding the age of a particular model of car and asking price for that car. Please answer the following questions using the output of Regression analysis from Excel. Alpha is 0.05.
| Age | Asking price |
| 1 | 11875 |
| 1 | 10222 |
| 2 | 9990 |
| 2 | 8600 |
| 3 | 9000 |
| 4 | 6995 |
| 5 | 4440 |
| 5 | 5500 |
| 6 | 4400 |
| 6 | 4880 |
| 8 | 3900 |
| 8 | 3880 |
| 9 | 3550 |
| 9 | 3620 |
| 10 | 3500 |
| 10 | 3550 |
| 13 | 2100 |
| 13 | 1950 |
| 15 | 1500 |
3. Based on the output tables, write down the regression equation using actual names of IVs and DVs.
4. Using the regression equation, and the step-by-step calculations in columns in Excel, find the SSe.
5. Calculate the MSe based on the results of the table from the previous step.
6. Calculate the standard error.
Homework Answers
Answer #1
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