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 relatingthe price of a used car to the variables: age of car,

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 19178.07 2593.15 7.396 0.0000 Age (Year) -4794.55 545.35 -8.792 0.0000 Mileage -388.10 32.05 (in Thousands) - 12.110 0.0000 Safety Rating 757.09 85.28 8.878 0.0000 Does the sign of the coefficient for the variable age make sense?O No. because it is expected that as age increases then the price should decrease. '3) Yes, because it is expected that as age increases then the price should decrease. O No. because it is expected that as age increases then the price should also increase. 0 Yes, because it is expected that as age increases then the price should also increase

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!