Question

alet or a used-car dealership is very interested in the resale price of used cars. The manager feels that the age of car (in
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Solution(12)

Sum of square = square mean * Df = 14.076*13 = 182.99

So its answer is D. I.e. 182.99

Solution(13)

P-value can be find from t table

As Df =14

Tstat = -1.776 and this is two tailed

So p-value = 0.10

So it's answer is D. I.e. 0.10

Add a comment
Know the answer?
Add Answer to:
alet or a used-car dealership is very interested in the resale price of used cars. The...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • For the 100 cars on the lot of a used-car dealership, would you expect a positive...

    For the 100 cars on the lot of a used-car dealership, would you expect a positive association, negative association, or no association between each of the following pairs of variables? The age of the car and the number of miles on the odometer Opositive association Onegative association no association The age of the car and the resale value Opositive association negative association no association The age of the car and the total amount that has been spent on repairs. Opositive...

  • Sales records indicate that the selling price of used cars at a large car dealership are...

    Sales records indicate that the selling price of used cars at a large car dealership are skewed right, with a mean of $17000 and a standard deviation of $11000 Explain whether Table Z (the normal distribution table) could be used to find the probability that a single used car at this dealership would sell for less than $20000 For a random sample of 70, the mean for the sampling distribution of average price would be and the standard deviation would...

  • The mean price for used cars is $10,312. A manager of a Kansas City used car...

    The mean price for used cars is $10,312. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. Open spreadsheet a. Formulate the...

  • A used-car dealership has hired you to modify the price of cars that are up for...

    A used-car dealership has hired you to modify the price of cars that are up for sale. In a script, assign the initial information about the car to a structure called carInfo. The structure shall have the following fields: ID: An identification number for the vehicle Make: A string that represents the make of the car Year: A number that corresponds to the year of the car Price: A number that holds the marked price of the car Miles: The...

  • The mean price for used cars is $10,206. A manager of a Kansas City used car...

    The mean price for used cars is $10,206. A manager of a Kansas City used car dealership reviewed a sample of 50 recent used car sales at the dealership in an attempt to determine whether the population mean price for used cars at this particular dealership differed from the national mean. The prices for the sample of 50 cars are contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. . What are the test...

  • A European used car dealer built a multiple linear regression model to predict the resale price...

    A European used car dealer built a multiple linear regression model to predict the resale price of a used car based on its conditions and features. The model with estimated coefficients is: Price= -1853.37 – 135.73 x Age + 12.74 x Weight + 39.27 x HP – 0.019 x KM + 16.44 x Quarterly_Tax + 1179.35 x Fuel_TypeDiesel + 2374.06 x Fuel_TypePetrol Descriptions of the variables in the model: Price: Offer price in Euros Age: Age in months as of...

  • Classified ads in the local paper offered several used cars of a particular model for sale....

    Classified ads in the local paper offered several used cars of a particular model for sale. The used car ages are measured in years and the advertised selling prices in dollars. Simple linear regression results: Dependent Variable: ad price Independent Variable: age Price_Advertised_($) = 12288.813 - 921.27273 Age_(yr) Sample size: **** R (correlation coefficient) = ****** R-sq = 0.89346768 Estimate of error standard deviation: 1218.3026 Parameter estimates: Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept 12288.813 574.62041 ≠ 0...

  • QUESTION 17 13)-19) A company analyst is interested in the relationship between number of cars sold...

    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...

  • A used car salesman wants to explain car price ($1,000s) using car age (years). A sample...

    A used car salesman wants to explain car price ($1,000s) using car age (years). A sample of midsized sedans was obtained. The output from a simple linear regression on the data is below. Parameter Estimate Std. Err. DF T-Stat P-value Intercept 17.370 1.448 8 11.31 0.000 Slope - 1.2283 0.2130 8 -5.77 0.001 Analysis of variance table for regression model: Source DF SS MS F-stat P-value Model 1 138.79 138.79 33.26 0.001 Error 8 29.21 4.17 Total 9 168.00 S...

  • A statistician wishes to estimate the price of a used car of a certain brand using...

    A statistician wishes to estimate the price of a used car of a certain brand using linear regression based on the variables Age, Mileages, Crash history, and Owner’s plate number. To do so, she randomly selected a certain number of used cars of the brand and measures AGE, MILEAGE, CRASH HISTORY, and NUMBER OF DIGITS ON PLATE NUMBER. The following is the output from R. Based on the R output, answer the following questions. f) Which variable would you first...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT