Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Coefficients Coefficients Standard Error t� Stat P-value Intercept 38356.1138356.11 4686.294686.29 8.1858.185 0.00000.0000 Age (Year) −18219.29−18219.29 2196.312196.31 −8.295−8.295 0.00000.0000 Mileage(in Thousands) 1149.561149.56 1897.651897.65 0.6060.606 0.54720.5472 Safety Rating 1396.751396.75 159.64159.64 8.7498.749 0.00000.0000 Does the sign of the coefficient for the variable mileage make sense?

Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Coefficients Coefficients Standard Error t� Stat P-value Intercept 38356.1138356.11 4686.294686.29 8.1858.185 0.00000.0000 Age (Year) −18219.29−18219.29 2196.312196.31 −8.295−8.295 0.00000.0000 Mileage(in Thousands) 1149.561149.56 1897.651897.65 0.6060.606 0.54720.5472 Safety Rating 1396.751396.75 159.64159.64 8.7498.749 0.00000.0000 Does the sign of the coefficient for the variable mileage make sense?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section: Chapter Questions

Problem 30PT: For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or...

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	Coefficients	Standard Error	t� Stat	P-value
Intercept	38356.1138356.11	4686.294686.29	8.1858.185	0.00000.0000
Age (Year)	−18219.29−18219.29	2196.312196.31	−8.295−8.295	0.00000.0000
Mileage (in Thousands)	1149.561149.56	1897.651897.65	0.6060.606	0.54720.5472
Safety Rating	1396.751396.75	159.64159.64	8.7498.749	0.00000.0000

Similar questions

For the following exercises, use Table 4 which shows the percent of unemployed persons 25 years or older who are college graduates in a particular city, by year. Based on the set of data given in Table 5, calculate the regression line using a calculator or other technology tool, and determine the correlation coefficient. Round to three decimal places of accuracy
Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s pole vault height has fallen below the value predicted by the regression line in Example 2. This might have occurred because when the pole vault was a new event there was much room for improvement in vaulters’ performances, whereas now even the best training can produce only incremental advances. Let’s see whether concentrating on more recent results gives a better predictor of future records. (a) Use the data in Table 2 (page 176) to complete the table of winning pole vault heights shown in the margin. (Note that we are using x=0 to correspond to the year 1972, where this restricted data set begins.) (b) Find the regression line for the data in part ‚(a). (c) Plot the data and the regression line on the same axes. Does the regression line seem to provide a good model for the data? (d) What does the regression line predict as the winning pole vault height for the 2012 Olympics? Compare this predicted value to the actual 2012 winning height of 5.97 m, as described on page 177. Has this new regression line provided a better prediction than the line in Example 2?
Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Coefficients Coefficients Standard Error t� Stat P-value Intercept 42465.6942465.69 5320.545320.54 7.9817.981 0.00000.0000 Age (Year) −21096.02−21096.02 2551.522551.52 −8.268−8.268 0.00000.0000 Mileage(in Thousands) −1312.73−1312.73 103.02103.02 −12.743−12.743 0.00000.0000 Safety Rating 1533.821533.82 165.72165.72 9.2559.255 0.00000.0000 Does the sign of the coefficient for the variable safety rating make sense?
Consider the following computer output from a multiple regression analysis relating the cost of car insurance to the variables: number of car accidents, driver’s credit score, and safety rating of the car. Coefficients Coefficients Standard Error tt Stat P-value Intercept 841841 85.9385.93 9.7879.787 0.00000.0000 Car Accidents(In last 3 years) 151.38151.38 15.9815.98 9.4739.473 0.00000.0000 Credit Score −92.51−92.51 10.2310.23 −9.043−9.043 0.00000.0000 Safety Rating −164.66−164.66 15.9815.98 −10.304−10.304 0.00000.0000 Does the sign of the coefficient for the variable credit score make sense?
A sales manager collected the following data on annual sales for new customer accounts and the number of years of experience for a sample of 10 salespersons. Salesperson Years of Experience Annual Sales ($1000s) 1 1 80 2 3 97 3 4 92 4 4 102 5 6 103 6 8 111 7 10 119 8 10 123 9 11 117 10 13 136 Develop a scatter diagram for these data with years of experience as the independent variable. Develop an estimated regression equation that can be used to predict annual sales given the years of experience. Use the estimated regression equation to predict annual sales for a salesperson with 9 years of experience.