Question: Using the same data set as Cars (A), create a multiple regression model to predict MSRP. This time, include the qualitative variables (Make/Model and Drive)

Using the same data set as Cars (A), create a multiple regression model to predict MSRP. This time, include the qualitative variables (Make/Model and Drive) as well as the quantitative ones. Try to maximize your adjusted R-square. This is a good time to learn how to use the Best Subsets feature in Minitab. Beware of multicollinearity! Refer back to the slides from Session 6, in which we showed that, for example, the "Volkswagen" dummy variable is itself a perfect combination of other variables. Even with Minitab, you'll need to control the set of predictor variables to avoid getting error messages

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!