Question

Question 9: A car dealer wants to find the relationships of car prices related to 3 variables: "Year", "Mileage" and "Horsepower". Here is the Excel Output results with 30 observations: Coefficient Standard Error t-stat p-value Intercept 2501198.34 931631 2.684 0.012 Year -1205.23 462.62 -2.60 0.014 Mileage -0.850 0.23 -3.62 0.001 Horsepower 56.67 30.63 1.95 0.04 What is the 99% confidence interval for the slope of Horsepower? (a) (56.67-2.756*30.63, 56.67+2.756*30.63) (b) (56.67-2.771*30.63,56.67+2.771*30.63) (c) (56.67-2.763*30.63,56.67+2.763*30.63) (d) (56.67-2.779*30.63, 56.67+2.779*30.63)

Answer 1

The answer is:

(c) (56.67 - 2.763*30.63, 56.67 + 2.763*30.63)

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