Think about your analysis in Exercise 14. Is the year of the car a quantitative variable? Create an indicator variable for the year of the car, and rebuild the model. Describe the models, and choose the best one.
A researcher has collected a random sample of data about Honda Accords for sale in Ontario. The data indicate year of the car, number of kilometres, and list price. Create and analyze all possible regression models for these data. Be sure to check that the required conditions are met. Is your model useful in terms of predicting the list price of used Honda Accords?