Question

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.**

Answer #1

The owner of Maumee Ford-Volvo wants to study the relationship
between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the
last year.
Car
Age (years)
Selling Price ($000)
1
10
11.7
2
7
10.7
3
12
5.1
4
13
4.8
5
8
8.0
6
8
13.1
7
8
10.2
8
12
9.6
9
11
9.6
10
13
3.7
11
6
11.5
12
6
10.2...

The accompanying table shows a portion of data consisting of the
selling price, the age, and the mileage for 20 used sedans.
Selling Price
Age
Miles
13,604
7
61,459
13,831
7
54,341
⋮
⋮
⋮
11,951
9
42,432
a. Determine the sample regression equation
that enables us to predict the price of a sedan on the basis of its
age and mileage. (Negative values should be indicated by a
minus sign. Round your answers to 2 decimal places.) [If you...

19. The accompanying table shows a portion of data consisting of
the selling price, the age, and the mileage for 20 used sedans.
Selling Price
Age
Miles
13,632
6
61,524
13,750
4
54,396
⋮
⋮
⋮
11,968
8
42,398
a. Determine the sample regression equation that
enables us to predict the price of a sedan on the basis of its age
and mileage. (Negative values should be indicated by a
minus sign. Round your answers to 2 decimal places.) [If...

1. In a multiple
regression model, the following coefficients were obtained:
b0 = -10 b1
= 4.5 b2 = -6.0
a. Write the
equation of the estimated multiple regression model. (3 pts)
b Suppose a
sample of 25 observations produces this result, SSE = 480. What is
the estimated standard error of the estimate? (5 pts)
2. Consider the
following estimated sample regression equation:
Y = 12 + 6X1 -- 3 X2
Determine which of the following
statements are true,...

3. Consider the following data set for an office
structure built by Anderson Construction Co. The completed building
is nine stories. However, construction was interrupted by a fire
after 5.3357 floors were completed. At the time of the fire,
Anderson had used 54,067 hours of labor to construct the first
5.3357 stories of the building. It then took Anderson an additional
40,750 labor hours to complete this nine-story building.
In this problem, FLRCOM is
the number of floors completed, and...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 12 minutes ago

asked 27 minutes ago

asked 33 minutes ago

asked 43 minutes ago

asked 45 minutes ago

asked 53 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago