Question

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) Is the model statistically significant at 5% significance?

c) Which of these 4 variables is statistically the most significant? Why?

Answer 1

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