Top Posters
Since Sunday
A
6
j
6
c
5
m
5
C
5
d
5
s
5
n
4
i
4
d
4
d
4
J
4

# Use the following to answer the questions below:Does the price of used cars depend upon the model? ...

wrote...
Posts: 134
Rep:
2 weeks ago
Use the following to answer the questions below:

Does the price of used cars depend upon the model? Data were collected on the selling price and age of used Hyundai Elantras (coded as Model = 1) and Toyota Camrys (coded as Model = 0). Output from the multiple regression analysis is provided.

The regression equation is Price = 14.5 - 0.619 Age - 3.63 Model

 Predictor Coef SE Coef T P Constant 14.4648 0.7059 20.49 0.000 Age -0.61922 0.04903 -12.63 0.000 Model -3.6343 0.7584 -4.79 0.000
S = 2.63465        R-Sq = 69.3%        R-Sq(adj) = 68.4%

Analysis of Variance

 Source DF SS MS F P Regression 2 1142.13 571.06 82.27 0.000 Residual Error 73 506.72 6.94 ​ ​ Total 75 1648.85 ​ ​ ​

What is the predicted price of a 6-year-old Hyundai Elantra? Round to three decimal places.
Textbook

## Statistics: Unlocking the Power of Data

Edition: 3rd
Authors:
Replies
Answer verified by a subject expert
danterichdanterich
wrote...
Posts: 136
Rep:
2 weeks ago
 Sign in or Sign up in seconds to unlock everything for free More solutions for this book are available here

### Related Topics

anonkah Author
wrote...

2 weeks ago
 Just got PERFECT on my quiz
wrote...

Yesterday
 You make an excellent tutor!
wrote...

2 hours ago
 Thank you, thank you, thank you!
Explore
Post your homework questions and get free online help from our incredible volunteers
797 People Browsing
107 Signed Up Today
Related Images

303

83

1728