Question: Output from multiple regression appears below. What is the interpretation of the coefficient on range? Coefficients Standard Error t Stat P-value Lower 95% Upper 95%

Output from multiple regression appears below. What is the interpretation of the coefficient on range? Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 494.234 89.618 5.515 0.000 305.156 683.311 Price 0.857 1.149 0.746 0.466 -1.567 3.282 Range 0.603 0.279 2.163 0.045 0.015 1.191 FuelEconomy 0.160 0.675 0.237 0.816 -1.264 1.584 Question 21 options: As customer satisfaction increases by 1 point, range increases by 0.603 points, on average and all else constant. As range increases by 0.603 miles, customer satisfaction increases by 1 point. As range increases by 1 mile, customer satisfaction increases by 0.603 points, on average and all else constant. As range increases by 0.603 miles, customer satisfaction increases by 1 point, on average and all else constant

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!