An analyst at a local automotive garage wanted to see if there were relationships between repair time in hours (y) and months since last service(x1), type of repair(x2), whether it was a truck or car(x3), or the mileage of the vehicle(x4). Use a level of significance of 0.05. 1. What is the dependent variable? 2. What are the independent variables? 3. Run the regression analysis with the four independent variables. Write out the prediction equation. 4. From a global perspective is the model worth keeping? Why? 5. Evaluate the individual independent variables, circle the variables would you consider removing? Explain why? X1 X2 X3 X4 6. Rerun the regression analysis after removing the unnecessary independent variables. Write the regression equation: 7. What repair time will it take for a car with 90000 miles, not serviced for six months, and requires for electrical repairs?
An analyst at a local automotive garage wanted to see if there were relationships between repair...
4) Repair time of a car can be modeled by linear regression using months since the type of repair (X1), drive type (X2), servicing frequency (X3), and driving frequency (X4) as predictors. The model obtained was Y = 2.5 +1.7X1 – 3.5X2 + 6.2X3 – 4.7X4. The model was built based on 40 cars and the standard errors for X1, X2, X3, and X4 were 3.4, 2.6, 2.8, and 3.9 respectively. If the F-stat is 5.8, a) Find R2. b)...
QUESTION 14 13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1,000s)) and three independent variables: price per gallon of gasoline (X1=Gas, in $), the prevailing interest rate for car loans (X2=Interest, in %), and the car model (X3=model, with X3=1, if the car is standard, and X3=0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept 96.0744...
QUESTION 14 13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1,000s)) and three independent variables: price per gallon f gasoline (X1 =Gas, in $), the prevailing interest rate for car loans (X2=Interest, in %), and the car model (X3=model, with X3=1, if the car is standard; and X3=0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept...
QUESTION 14 13)-19) A company analyst is interested in the relationship between number of cars sold per month in 1,000s) and three independent variables: prion per gallon of gasoline X1.Gas, in S), the prevailing interest rate for car loans Interest, in %), and the car model model, with X3-1, if the car is standard, and X3.0, if the car is luxury). Ho took a sample of 50 observations and obtained the following output: Coefficients Standard Error Stat Palun Intercept 96.0744...
13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1,000s) and three independent variables: price per gallon of gasoline (X1=Gas, in $), the prevailing interest rate for car loans (x2=Interest, in %), and the car model (x3=model, with X3=1, the car is standard; and X3=0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept 96.0744 10.0080 5.60 0.0001...
QUESTION 17 13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1.000s)) and three independent variables: price per gallon of gasoline (X1-Gas, in $), the prevailing interest rate for car loans (x2-Interest, in %), and the car model (X3=model, with X3-1, if the car is standard, and X3-0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept 96.0744...
Ignore Number 6 5. A sample of 30 houses that were sold in the last year was taken. The value of the house (y, in dollars) was estimated. The independent variables included in the analysis were the number of rooms (xi), the size of the lot (x2, in sq ft), the number of bathrooms (x3), and a dummy variable (x4), which equals 0 if the house does not have a garage and equals 1 otherwise. The following regression results were...
IN A EXCEL FILE USING EXCEL FORMULAS AND CALCULATIONS MUST SHOE FORMULAS IN CELL! SHOW THE STEPS IN SOLUTION APPROACH. Refer to the Johnson Filtration problem introduced in this section. Suppose that in addition to information on the number of months since the machine was serviced and whether a mechanical or an electrical repair was necessary, the managers obtained a list showing which repairperson performed the service. The revised data follow. Repair Time in Hours Months Since Last Service Type...
The following regression output was obtained from a study of architectural firms. The dependent variable is the total amount of fees in millions of dollars. Predictor Coefficient SE Coefficient t p-value Constant 7.987 2.967 2.690 0.010 x1 0.122 0.031 3.920 0.000 x2 − 1.120 0.053 − 2.270 0.028 x3 − 0.063 0.039 − 1.610 0.114 x4 0.523 0.142 3.690 0.001 x5 − 0.065 0.040 − 1.620 0.112 Analysis of Variance Source DF SS MS F p-value Regression 5 371000 742...
QUESTION 16 13)-19) A company analyst is interested in the relationship between number of cars sold per month (in 1,000s) and three independent variables: price per gallon of gasoline (X1=Gas, in $), the prevailing interest rate for car loans (X2=Interest, in %), and the car model (X3=model, with X3=1, if the car is standard; and X3=0, if the car is luxury). He took a sample of 50 observations and obtained the following output: Coefficients Standard Errort Stat P-value Intercept 96.0744...