Answered: please assist with this NON GRADED…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section: Chapter Questions

Problem 4SGR

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please assist with this NON GRADED problem.

data file information is below

Price	Mileage	Age
16998	35000	3
17599	16000	3
15998	42000	3
15998	61000	4
11599	102000	7
13998	109000	4
14998	60000	5
11599	88000	9
12599	58000	8
14998	27000	6
15998	32000	4
11599	95000	8
10499	123000	8
14599	54000	5
10599	68000	11
16998	40000	4
20998	7000	1
11599	81000	9
12599	70000	6
13599	86000	5
11599	92000	7
9599	120000	10
18998	20000	2
12599	63000	7
12599	70000	6
10998	88000	10
11998	86000	6
12998	60000	6
17599	45000	2
9998	96000	11
9998	60000	11
16998	36000	2
17599	45000	2

Transcribed Image Text:The Honda Accord was named the best midsized car for resale value for 2018 by the Kelley Blue Book (Kelley Blue Book website). The file AutoResale contains mileage, age, and selling price for a sample of 33 Honda Accords. Click on the datafile logo to reference the data. DATA File a. Develop an estimated regression equation that predicts the selling price of a used Honda Accord given the mileage and age of the car (to 2 decimals). Enter negative value as negative number. Selling price = O Mileage + Age + b. Is multicollinearity an issue for this model? Find the correlation between the independent variables to answer this question (to 2 decimals). The correlation between age and mileage is I. Since the correlation between the independent variables is less than 0.70, we conclude that multicollinearity is an issue. II. Since the correlation between the independent variables is less than 0.70, we conclude that multicollinearity is not an issue. II. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is an issue. IV. Since the correlation between the independent variables is greater than 0.70, we conclude that multicollinearity is not an issue. II c. Use the F test to determine the overall significance of the relationship (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use F table. Significance F value p-value at a = 0.05 Overall Model Select your answer - significant d. Use the t test to determine the significance of each independent variable (to 2 decimals). What is your conclusion at the 0.05 level of significance? Use t table. Enter negative value as negative number. Significance t value p-value at a = 0.05 Mileage Select your answer significant Age - Select your answer - significant Hide Feedback

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