SellingPrice |
Age |
Miles |
13532 |
8 |
61456 |
13740 |
9 |
54394 |
22979 |
2 |
8260 |
15276 |
5 |
24897 |
16423 |
2 |
22148 |
16627 |
7 |
23696 |
16907 |
1 |
47447 |
18405 |
1 |
16812 |
18811 |
7 |
35377 |
19850 |
5 |
29664 |
11883 |
9 |
55844 |
14918 |
2 |
46207 |
15925 |
1 |
36984 |
16485 |
2 |
45531 |
9431 |
9 |
86950 |
12947 |
8 |
77237 |
15742 |
8 |
59686 |
10538 |
8 |
93255 |
8913 |
9 |
48299 |
11954 |
9 |
42428 |
Solution:
We can use the excel regression data analysis tool to find the least-squares regression equation. The excel output is given below:
SUMMARY OUTPUT | ||||||
Regression Statistics | ||||||
Multiple R | 0.8047 | |||||
R Square | 0.6475 | |||||
Adjusted R Square | 0.6061 | |||||
Standard Error | 2231.4112 | |||||
Observations | 20 | |||||
ANOVA | ||||||
df | SS | MS | F | Significance F | ||
Regression | 2 | 155504697.6276 | 77752348.8138 | 15.6154 | 0.0001 | |
Residual | 17 | 84646332.5724 | 4979196.0337 | |||
Total | 19 | 240151030.2 | ||||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | Upper 95% | |
Intercept | 21149.4445 | 1197.9879 | 17.6541 | 0.0000 | 18621.9109 | 23676.9781 |
Age | -359.0370 | 194.7688 | -1.8434 | 0.0828 | -769.9632 | 51.8893 |
Miles | -0.0889 | 0.0280 | -3.1805 | 0.0055 | -0.1479 | -0.0299 |
SellingPrice Age Miles 13532 8 61456 13740 9 54394 22979 2 8260 15276 5 24897 16423...
EXCEL FILE:
SellingPrice
Age
Miles
13636
8
61474
13736
7
54367
22956
3
8231
15317
1
24820
16401
2
22116
16639
5
23656
16971
3
47394
18474
1
16896
18844
7
35442
19816
5
29608
11900
10
55750
14957
3
46159
15903
3
37020
16489
1
45471
9499
6
86902
12956
7
77211
15722
4
59600
10463
10
93226
8991
11
48227
11989
6
42360
The accompanying table shows a portion of data consisting of the selling price, the age,...
The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans. 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 are using R to obtain the output, then first enter the following command at the prompt:...
The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans. Click here for the Excel Data File Selling Price Age Miles 13,557 4 61,488 13,710 6 54,378 22,917 2 8,233 15,298 7 24,829 16,404 3 22,134 16,583 1 23,742 16,975 3 47,367 18,460 2 16,879...
I submitted this post already, and the answers that are entered
are all wrong please help.
The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans. Selling Price 13,512 13,726 Age 8 7 Miles 61,504 54,306 11,906 6 42,447 Miles 61504 54306 8295 24821 22051 23720 47374 WN Selling Price Age 13512 13726 22905 15255 16351 16616 16968 18471 18834 19888 11874 14903 15859 16482 9417 12900 15766...
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 13545 7 61522 13769 9 54353 22926 1 8214 15300 2 24809 16425 3 22133 16614 2 23665 16916 5 47380 18449 2 16895 18891 4 35417 19819 5 29660 11825 7 55774 14979 2 46169 15858 4 36951 16470 5 45535 9457 8 86948 12972 8 77224 15719 5 59665 10536 9 93251...
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 13638 6 61530 13714 8 54368 22949 3 8212 15286 7 24865 16376 2 22104 16580 2 23701 16913 2 47420 18427 3 16849 18880 4 35437 19887 2 29612 11847 6 55802 14943 1 46250 15920 4 37046 16544 3 45465 9491 8 86863 12905 7 77206 15775 5 59668 10522 7 93238...
A statistical program is recommended. The data below contains mileage, age, and selling price for a sample of 33 sedans. Price Mileage Age Price Mileage Age Price Age 11,599 95,000 18,998 16,998 17,599 35,000 16,000 8 8 Mileage 20,000 | 63,000 10,499 123,000 12,599 15,998 42,000 14,599 54,000 12,599 15,998 10,599 68,000 11 10,998 70,000 88,000 86,000 60,000 61,000 102,000 109,000 16,998 11,599 13,998 11,998 20,998 12,998 14,998 50,000 11,599 17,599 11,599 12,599 13,599 9,998 40,000 7,000 81,000 70,000 86,000...
(Use R or excel) The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans SellingPrice Age Miles 13535 7 61453 13727 9 54313 22929 1 8227 15302 2 24822 16392 2 22055 16583 2 23697 16911 3 47375 18456 3 16821 18849 7 35441 19800 7 29613 11813 9 55757 14971 4 46216 15898 3 37040 16462 1 45549 9436 6 86927 12979 8 77211 15706 9 59641...
CAR 1 2 3 4 5 6 7 8 9 10 11 12 AGE 13 10 15 17 11 10 11 15 15 17 8 8 PRICE 13.1 11.8 5.7 4.9 6.8 14.0 11.4 9.8 9.8 4.5 13.0 11.0 Listed above is random sample of 12 used cars sold at the dealership during the last year. A. Determine the regression equation? a = b = B. Estimate the selling price of an 7-year old car ($000) selling price? C. Interpret...
Age
Mileage
7
52654
4
49300
13
113671
7
63001
7
69850
7
68048
12
106979
8
82719
7
80894
10
109258
14
149804
8
98915
A used car dealer wants to develop a regression equation that determines mileage as a function of the age of a car in years. He collects the data shown below for the 12 cars he has on his lot. Assignment 1094 data a) What is the slope of the regression equation? Give your answer...