Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale, whether or not it is listed as a Sub-Zero brand, the number of doors (one door or two doors), and the placement of the freezer compartment (top, side, or bottom). The table below shows the regression output from a regression model using the natural log of price as the dependent variable. The model was developed by the Bureau of Labor Statistics. Variable Coefficient Standard Error t Statistic Intercept 5.4000 0.13415 40.25 Sale price −0.0759 0.0283 −2.68 Sub-Zero brand 1.1471 0.1459 7.86 Total capacity (in cubic feet) 0.06929 0.00595 11.64 Two-door, freezer on bottom 0.05567 0.07292 0.76 Two-door, side freezer Base Two-door, freezer on top −0.3352 0.03537 −9.48 One door with freezer −0.6144 0.1362 −4.51 One door, no freezer −0.8573 0.1491 −5.75 Find the p-value for each coefficient, using 315 degrees of freedom. Using an α = .10, which predictor variable(s) are not significant predictors? (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.) By how much does the natural log of refrigerator price decrease from a two-door, side freezer model to a two-door, top freezer model? (Round your answer to 4 decimal places.)

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

Chapter3: Straight Lines And Linear Functions

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Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale, whether or not it is listed as a Sub-Zero brand, the number of doors (one door or two doors), and the placement of the freezer compartment (top, side, or bottom). The table below shows the regression output from a regression model using the natural log of price as the dependent variable. The model was developed by the Bureau of Labor Statistics.

Variable	Coefficient	Standard Error	t Statistic
Intercept	5.4000	0.13415	40.25
Sale price	−0.0759	0.0283	−2.68
Sub-Zero brand	1.1471	0.1459	7.86
Total capacity (in cubic feet)	0.06929	0.00595	11.64
Two-door, freezer on bottom	0.05567	0.07292	0.76
Two-door, side freezer	Base
Two-door, freezer on top	−0.3352	0.03537	−9.48
One door with freezer	−0.6144	0.1362	−4.51
One door, no freezer	−0.8573	0.1491	−5.75

Find the p-value for each coefficient, using 315 degrees of freedom. Using an α = .10, which predictor variable(s) are not significant predictors? (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.)

By how much does the natural log of refrigerator price decrease from a two-door, side freezer model to a two-door, top freezer model? (Round your answer to 4 decimal places.)

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