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The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000's), AGE = age of the vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB . The regression equation is ***** Coef StDev t-ratio p-value Predictor 1.7586 0.2525 0.3175 Constant 6.9648 0.0000 0.2124 -0.7527 AGE 0.5042 MIL 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000 R-sq=56.1% R-sq(adj) =59.8% Analysis of Variance Source DF MS F Regression Error 3 50 413.1291 457.7607 138.7097 2.2888 *** 0.00 Total 53

The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000's), AGE = age of the vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB . The regression equation is ***** Coef StDev t-ratio p-value Predictor 1.7586 0.2525 0.3175 Constant 6.9648 0.0000 0.2124 -0.7527 AGE 0.5042 MIL 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000 R-sq=56.1% R-sq(adj) =59.8% Analysis of Variance Source DF MS F Regression Error 3 50 413.1291 457.7607 138.7097 2.2888 *** 0.00 Total 53

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 26PPS
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use appropriate statistical tables where necessary

find the value of ***. 

perform the F test making sure to state null and alternative hypothesis.

Given the interpretation of the term "R-sq" and comment on its value.

The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000's), AGE = age of the vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB. The regression equation is ***** Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE 0.2124 0.3175 0.5042 MIL -0.7527 0.3586 -2.0991 ENG 4.8124 0.6196 7.7664 0.0000 R-sq=56.1$ R-sq (adj) =59.8% Analysis of Variance Source DF MS p Regression Error 3 50 413.1291 457.7607 138.7097 2.2888 0.00 *** Total 53
Transcribed Image Text:The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000's), AGE = age of the vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB. The regression equation is ***** Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE 0.2124 0.3175 0.5042 MIL -0.7527 0.3586 -2.0991 ENG 4.8124 0.6196 7.7664 0.0000 R-sq=56.1$ R-sq (adj) =59.8% Analysis of Variance Source DF MS p Regression Error 3 50 413.1291 457.7607 138.7097 2.2888 0.00 *** Total 53
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