Question: Please use Excel and verify if correct so far Answer the following questions with regards to this regression output used to predict cost per mile
Please use Excel and verify if correct so far


Answer the following questions with regards to this regression output used to predict cost per mile ($/mile) for a set of 54 automobiles. SUMMARY OUTPUT Regression Statistics Multiple R 0.96437911 R Square 0.93002708 Adjusted R Square 0.92109436 Standard Error 0.0291462 Observations 54 ANOVA Significance F df SS MS F 6 0.530673 0.088446 104.1147 1.95E-25 Regression Residual 47 0.039927 0.00085 Total 53 0.5706 Standard Error Coefficients t Stat P-value Upper 95% Lower 95% 0.46782703 0.066644 7.01984 7.63E-09 0.333758 0.601897 Intercept Price ($) 9.5465E-06 1.67E-06 5.701492 7.6E-07 6.18E-06 1.29E-05 Road-Test Score 0.00073659 0.000577 1.275651 0.208348 -0.00043 0.001898 Reliability 0.00900685 0.004191 2.149322 0.036789 0.000577 0.017437 Value Score -0.11576986 0.025782 -4.49032 4.6E-05 -0.16764 -0.0639 Small cada nnnnn Small Sedan -0.03981515 0.02477 -1.60738 0.11467 -0.08965 0.010016 Family Sedan -0.00738435 0.003571 -2.06772 0.043658 -0.01453 -0.00024 Is the regression model significant at an alpha of 0.10? (enter Yes or No) Yes What is the appropriate coefficient of determination? (directly copy and paste from the table) 0.46782703 What is the partial regression coefficient of the Road Test Score? (directly copy and paste from the table) 0.208348 With an alpha of 0.10, does Price (s) significantly contribute to the model? (enter Yes or No) Yes With an alpha of 0.10, which variable would be the first to be dropped from the regression in order to reduce it to only significant variables? (directly paste the variable name) Road-Test Score
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
