Question: Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and

Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Coefficients Coefficients Standard Error t Stat P-value Intercept 43835.55 5654.62 7.752 0.0000 Age (Year) -22054.93 2346.59 -9.399 0.0000 Mileage -1367.12 111.37 -12.276 0.0000 (in Thousands) Safety Rating 1579.51 176.75 8.937 0.0000 Does the sign of the coefficient for the variable safety rating make sense? Answer 2 Points Tables Keypad Keyboard Shortcuts O No, because it is expected that as safety rating increases then the price should also increase. O No, because it is expected that as safety rating increases then the price should decrease. O Yes, because it is expected that as safety rating increases then the price should also increase. O Yes, because it is expected that as safety rating increases then the price should decrease

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 Mathematics Questions!