Question: Using the regression output below answer the following questions. Dependent: Car price Multiple F = 211.7113 p = 0.02 No. of cases: 500 R=

Using the regression output below answer the following questions. Dependent: Car price

Using the regression output below answer the following questions. Dependent: Car price Multiple F = 211.7113 p = 0.02 No. of cases: 500 R= .72040547 Std B t Beta Intercept 500 - 11.0550 0.000000 Age -750 -.2 -4.4574 0.000010 Miles -0.07 -.31 -3.6428 0.001000 New Price 0.8 .28 3.9637 0.004000 15. How much variation in used car is explained by our regression equation? 16. Write out the regression equation. 17. Which independent variables are significant at alpha = 0.01 18. Which independent variable has the largest impact on price? 19. What is the change in price for a two year old car, ceteris paribus? 20. What is the probability of a type I error for the IV "New Price"?

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