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Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and Intercept Age (Year) Answer Mileage (in Thousands) Safety Rating Does the sign of the coefficient for the variable age make sense? Coefficients 23287.65 7671.28 -551.27 Coefficients 894.16 Standard Error 3327.39 8976.75 45.10 96.36 t Stat 6.999 0.855 - 12.223 9.280 P-value 0.0000 0.3965 0.0000 0.0000 O No, because it is expected that as age increases then the price should decrease. O Yes, because it is expected that as age increases then the price should also increase. O No, because it is expected that as age increases then the price should also increase. O Yes, because it is expected that as age increases then the price should decrease. Tables Keyboard

Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and Intercept Age (Year) Answer Mileage (in Thousands) Safety Rating Does the sign of the coefficient for the variable age make sense? Coefficients 23287.65 7671.28 -551.27 Coefficients 894.16 Standard Error 3327.39 8976.75 45.10 96.36 t Stat 6.999 0.855 - 12.223 9.280 P-value 0.0000 0.3965 0.0000 0.0000 O No, because it is expected that as age increases then the price should decrease. O Yes, because it is expected that as age increases then the price should also increase. O No, because it is expected that as age increases then the price should also increase. O Yes, because it is expected that as age increases then the price should decrease. Tables Keyboard

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 6PPS
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Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Intercept Age (Year) Answer Mileage (in Thousands) Safety Rating Does the sign of the coefficient for the variable age make sense? Coefficients 23287.65 7671.28 -551.27 Coefficients 894.16 Standard Error 3327.39 8976.75 45.10 96.36 t Stat 6.999 0.855 - 12.223 9.280 P-value 0.0000 0.3965 0.0000 0.0000 O No, because it is expected that as age increases then the price should decrease. O Yes, because it is expected that as age increases then the price should also increase. O No, because it is expected that as age increases then the price should also increase. O Yes, because it is expected that as age increases then the price should decrease. Tables Keyboard
Transcribed Image Text:Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Intercept Age (Year) Answer Mileage (in Thousands) Safety Rating Does the sign of the coefficient for the variable age make sense? Coefficients 23287.65 7671.28 -551.27 Coefficients 894.16 Standard Error 3327.39 8976.75 45.10 96.36 t Stat 6.999 0.855 - 12.223 9.280 P-value 0.0000 0.3965 0.0000 0.0000 O No, because it is expected that as age increases then the price should decrease. O Yes, because it is expected that as age increases then the price should also increase. O No, because it is expected that as age increases then the price should also increase. O Yes, because it is expected that as age increases then the price should decrease. Tables Keyboard
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