Question: Create three regression models using Price as the response variable. In all three cases, provide the regression model, R2 value, t-statistic for the slope coefficients,

Create three regression models using Price as the response variable. In all three cases, provide the regression model, R2 value, t-statistic for the slope coefficients, and corresponding p-values.
a. In the first model, use only Mileage and Liter as the explanatory variables. Is Liter an important explanatory variable in this model?
b. In the second model, use only Mileage and number of cylinders (Cyl) as the explanatory variables. Is Cyl an important explanatory variable in this model?
c. In the third model, use Mileage, Liter, and number of cylinders (Cyl) as the explanatory variables. How did the test statistics and p- values change when all three explanatory variables were included in the model?

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a Regression Analysis NewRetail versus Mileage Liter The regression equation is NewRetail 9427 0160 ... View full answer

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