In your new role as a data scientist for a logging company, you build a regression for the value of a tree (in $). The regression output below estimates the value of a tree (in $) based on independent variables for the age of the tree in years (Age), the height of the tree in feet (Height) and the diameter of the tree in inches (Diameter). Standard Coefficients t Stat P-value Error Intercept 25.74 18.65 1.38 0.168 Age 6.57 3.63 1.81 0.070 Height 30.84 11.51 2.68 0.007 Diameter 36.80 17.36 2.12 0.034 What would the coefficient on Diameter be if diameter was measured in feet, not inches? Note that 12 inches = 1 foot. Please round your answer to 2 decimal places.
In your new role as a data scientist for a logging company, you build a regression for the value of a tree (in $). The regression output below estimates the value of a tree (in $) based on independent variables for the age of the tree in years (Age), the height of the tree in feet (Height) and the diameter of the tree in inches (Diameter). Standard Coefficients t Stat P-value Error Intercept 25.74 18.65 1.38 0.168 Age 6.57 3.63 1.81 0.070 Height 30.84 11.51 2.68 0.007 Diameter 36.80 17.36 2.12 0.034 What would the coefficient on Diameter be if diameter was measured in feet, not inches? Note that 12 inches = 1 foot. Please round your answer to 2 decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 6PPS
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Transcribed Image Text:In your new role as a data scientist for a logging company, you build a
regression for the value of a tree (in $). The regression output below
estimates the value of a tree (in $) based on independent variables for the
age of the tree in years (Age), the height of the tree in feet (Height) and the
diameter of the tree in inches (Diameter).
Standard
Coefficients
t Stat P-value
Error
Intercept
25.74
18.65
1.38
0.168
Age
6.57
3.63
1.81
0.070
Height
30.84
11.51
2.68
0.007
Diameter
36.80
17.36
2.12
0.034
What would the coefficient on Diameter be if diameter was measured in
feet, not inches? Note that 12 inches = 1 foot.
Please round your answer to 2 decimal places.
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