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18) The following results are from data where the dependent variable is the selling price of used cars, the independent variables are similar to those in the above regression along with some additional variables. The data were split into 2 samples and the following regression results were obtained from the split data. a) If we wanted to test for heteroscedasticity, what is the critical value (using a 1% level of significance)? *please round your answer to 2 decimal places*

18) The following results are from data where the dependent variable is the selling price of used cars, the independent variables are similar to those in the above regression along with some additional variables. The data were split into 2 samples and the following regression results were obtained from the split data. a) If we wanted to test for heteroscedasticity, what is the critical value (using a 1% level of significance)? *please round your answer to 2 decimal places*

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.6: Higher-degree Polynomials And Rational Functions
Problem 12SBE
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18) The following results are from data where the dependent variable is the selling price of used cars, the independent variables are similar to those in the above regression along with some additional variables. The data were split into 2 samples and the following regression results were obtained from the split data. a) If we wanted to test for heteroscedasticity, what is the critical value (using a 1% level of significance)? *please round your answer to 2 decimal places*
Regression Statistics Multiple R R Square Adjusted R Square 0.846 0.715 0.653 Standard Error 872.9 Observations 49 ANOVA df SS MS F Significance F Regression 6. 76575468 8508385 11.2 1.03933E-08 Residual 40 30479336 761983 Total 49 107054804 LITU Coefficients Standard Error t Stat P-value Intercept 17270.81 2684.71 6.43 0.00 MSRP_Amt 0.35 0.06 5.55 0.00 Manual 384.14 309.31 1.24 0.22 Convertible -814.13 375.34 -2.17 0.04 VIN8_6Cylinder Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -637.40 452.57 -1.41 0.17 -64.41 14.82 -4.35 0.00 -276.45 41.09 -6.73 0.00 -0.50 0.49 -1.02 0.31 1.52 0.70 2.17 0.04 -7.91 10.17 -0.78 0.44 SUMMARY OUTPUT Regression Statistics Multiple R R Square 0.724 0.524 Adjusted R Square 0.423 Standard Error 1622.0 Observations 52 ANOVA df MS F Significance F Regression 9 116147955 12905328 4.90 0.000104741 Residual 40 105247338 2631183 Total 49 221395293 Coefficients Standard Error t Stat P-value Intercept 13992.20 3169.78 4.41 0.00 MSRP_Amt 0.19 0,07 2.72 0.01 Manual 629.14 459.84 1.37 0.18 Convertible -920.90 1060.78 -0.87 0.39 VIN8 6Cylinder -1251.81 752.26 -1.66 0.10 Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -49.71 13.24 -3.75 0.00 -153.04 55.28 -2.77 0.01 -0.49 0.32 -1.53 0.13 -1.09 1.09 -0.99 0.33 -19.88 7.84 -2.54 0.01
Transcribed Image Text:Regression Statistics Multiple R R Square Adjusted R Square 0.846 0.715 0.653 Standard Error 872.9 Observations 49 ANOVA df SS MS F Significance F Regression 6. 76575468 8508385 11.2 1.03933E-08 Residual 40 30479336 761983 Total 49 107054804 LITU Coefficients Standard Error t Stat P-value Intercept 17270.81 2684.71 6.43 0.00 MSRP_Amt 0.35 0.06 5.55 0.00 Manual 384.14 309.31 1.24 0.22 Convertible -814.13 375.34 -2.17 0.04 VIN8_6Cylinder Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -637.40 452.57 -1.41 0.17 -64.41 14.82 -4.35 0.00 -276.45 41.09 -6.73 0.00 -0.50 0.49 -1.02 0.31 1.52 0.70 2.17 0.04 -7.91 10.17 -0.78 0.44 SUMMARY OUTPUT Regression Statistics Multiple R R Square 0.724 0.524 Adjusted R Square 0.423 Standard Error 1622.0 Observations 52 ANOVA df MS F Significance F Regression 9 116147955 12905328 4.90 0.000104741 Residual 40 105247338 2631183 Total 49 221395293 Coefficients Standard Error t Stat P-value Intercept 13992.20 3169.78 4.41 0.00 MSRP_Amt 0.19 0,07 2.72 0.01 Manual 629.14 459.84 1.37 0.18 Convertible -920.90 1060.78 -0.87 0.39 VIN8 6Cylinder -1251.81 752.26 -1.66 0.10 Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -49.71 13.24 -3.75 0.00 -153.04 55.28 -2.77 0.01 -0.49 0.32 -1.53 0.13 -1.09 1.09 -0.99 0.33 -19.88 7.84 -2.54 0.01
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