k) - Businex > Evaluation in - student feedbox M Inbox (2) - vasquez_tomas@colux 683/viewcontent/41483766/View Liberty Utilities Pay... TURO - Hyundai Airbnb - LA Psychology book PER201 book CAPA FORMAT CITAT... Thes Exam Part 1 (Excel) Time Left:0:44:15 0:45.00 Tomas Vosguer: Attempt 1 To measure value. Consumer Reports developed a statistic referred to as a value score. The value score is based upon five-year owner cost overall road-test scores, and predicted reliability ratings. Five-year owner costs are based upon the expenses incurred in the first five years of ownership, including depreciation, fuel, maintenance and repairs, and so on. Using a national average of 12.000 miles per year, an average cost per mile driven is used as a measure of five year owner costs. Road-test scores are the results of more than 50 tests and evaluations and are based on a 100-point scale. With higher scores indicating better performance, comfort. convenience, and fuel economy. a. To incorporate the effect of size of car, create two dummy variables, Family Sedan that equals 1 when the car is family sedan and zero otherwise, and Upscale Sedan that equals 1 when the car is upscale setan and zero otherwise. 12 points) b. Develop three scatter diagrams with Value Score as the dependent variable and price, cost, and road test score as the independent variables. What relationships exist between the Value score and the independent variables? (3 points) c. Run the regression and develop an estimated regression equation that can be used to predict the Value Score given the Price Cost/Mile. Road-Test Scores, Predicted Reliability, Family Sedan, and Upscale Sedan (you have the value score as dependent variable and four independent variables, run the regression and write the regression equation) (4 points) d. Is the model a good fit? Why? (2 points) e. Is the model overall significant? Why? (2 points) 1. Which variables are good predictors? Interpret their coefficients 16 points) 1. Check the normality assumption of the model 12 points) h. If the car is family sedan with a price of 20,000 and cost/mile of 60 and road test- score of 70 and predicted reliability of 3. what is the predicted value score? (2 points O ! k) - Businex > Evaluation in - student feedbox M Inbox (2) - vasquez_tomas@colux 683/viewcontent/41483766/View Liberty Utilities Pay... TURO - Hyundai Airbnb - LA Psychology book PER201 book CAPA FORMAT CITAT... Thes Exam Part 1 (Excel) Time Left:0:44:15 0:45.00 Tomas Vosguer: Attempt 1 To measure value. Consumer Reports developed a statistic referred to as a value score. The value score is based upon five-year owner cost overall road-test scores, and predicted reliability ratings. Five-year owner costs are based upon the expenses incurred in the first five years of ownership, including depreciation, fuel, maintenance and repairs, and so on. Using a national average of 12.000 miles per year, an average cost per mile driven is used as a measure of five year owner costs. Road-test scores are the results of more than 50 tests and evaluations and are based on a 100-point scale. With higher scores indicating better performance, comfort. convenience, and fuel economy. a. To incorporate the effect of size of car, create two dummy variables, Family Sedan that equals 1 when the car is family sedan and zero otherwise, and Upscale Sedan that equals 1 when the car is upscale setan and zero otherwise. 12 points) b. Develop three scatter diagrams with Value Score as the dependent variable and price, cost, and road test score as the independent variables. What relationships exist between the Value score and the independent variables? (3 points) c. Run the regression and develop an estimated regression equation that can be used to predict the Value Score given the Price Cost/Mile. Road-Test Scores, Predicted Reliability, Family Sedan, and Upscale Sedan (you have the value score as dependent variable and four independent variables, run the regression and write the regression equation) (4 points) d. Is the model a good fit? Why? (2 points) e. Is the model overall significant? Why? (2 points) 1. Which variables are good predictors? Interpret their coefficients 16 points) 1. Check the normality assumption of the model 12 points) h. If the car is family sedan with a price of 20,000 and cost/mile of 60 and road test- score of 70 and predicted reliability of 3. what is the predicted value score? (2 points O