Question: Based on the Summary Output produced by the regression analysis write out the linear regression model and explain why you are confident (or not confident)

Based on the Summary Output produced by the regression analysis write out the linear regression model and explain why you are confident (or not confident) in the model to predict the price.

A B C D E F G H SUMMARY OUTPUT Regression Statistics Multiple R 0.952313 R Square 0.9069 Adjusted R Square 0.90662 Standard Error 0.138905 observations 1000 ANOVA df 55 MS F gnificance F Regression 3 187.1994 62.39979 3234.063 Residual 996 19.21737 0.019295 Total 999 206.4167 Coefficient:andard Err t Stat P-value Lower 95%Upper 95%ower 95.0"pper 95.0% Intercept 0.693086 0.019265 35.97703 2.7E-182 0.655282 0.73089 0.655282 0.73089 cut ord -0.02459 0.00404 -6.08559 1.65E-09 -0.03252 -0.01666 -0.03252 -0.01666 clarity_ord -0.0522 0.002673 -19.5267 3.798-72 -0.05745 -0.04695 -0.05745 -0.04695 price 0.000105 1.15E-06 91.27208 0 0.000103 0.000108 0.000103 0.000108 RESIDUAL OUTPUT Observation edicted car Residuals 1 0.941857 0.288143 2 0.391289 -0.07129 3 0.876051 0.023949 4 1.723984 0.286016 5 0.682051 0.037949 6 0.805795 -0.05579 7 1.128657 0.091343 8 1.554187 -0.04419 9 1.419063 0.100937

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Please answer Step 1 to Step 4 Step 1 - Understanding the Model: There are two datasets. diamondscontains the data used to build the regression model. new diamonds contains the data for the diamonds...

Please answer Step 1 to Step 4 There are two datasets. diamonds_test_summer_2023.xlsx new_diamonds_summer_2023.xlsx Step 1 - Understanding the Model: diamondscontains the data used to build the...

Please answer Step 1 to Step 4 Step 1 - Understanding the Model: There are two datasets. diamonds?contains the data used to build the regression model. new diamonds contains the data for the diamonds...

' Cut represents the quality of the cut of the diamond ,and falls into 5 categories fair, good, very good, ideal, and premium. Each of these categories are represented by a number, 1-5, in the...

Based on the Summary Output produced by the regression analysis write out the linear regression model and explain why you are confident (or not confident) in the model to predict the price. According...

The Factors Affecting the Gross Domestic Products Park University EC 315 Quantitative Research Methods Lisa Williams Purpose Statement Gross Domestic Products is affected by different factors of...

$15,000 was invested, from which can be withdrawn a geometric gradient series of annual payments decreasing at the rate of 10% per year. The first payment received was $3,000 and it occurred after...

Michael owns a small plane that he flies on weekends. His insurance agent informs him that aircraft are excluded as personal property under his homeowners policy. As an insured, he feels that his...

If the spot exchange rate is 1 = $ 1 . 5 0 when the market opens, and 1 = $ 1 . 4 8 at the end of the day, the pound has appreciated, and the dollar has depreciated. t / f

Wellington, Inc, manufactures three related products in its Colorado Springs facility. Relevant data are given below. The key material in these products is teflonium, a rare mineral of which there is...

=+ e. What happens to Oceanias real exchange rate?

=+in TV production, while Russia has very rapid growth in the money supply and no technological progress in vodka production. Based on this information, what would you predict for the real

=+exchange rate (measured as bottles of vodka per TV) and the nominal exchange rate (measured as rubles per yuan)? Explain your reasoning. (Hint: For the real exchange rate, think about the link...