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Question
NARRBEGIN: SA_98_102An automobile rental company wants to predict the yearly maintenance expense (Y) for an automobile using the number of miles driven during the year (
) and the age of the car (
, in years) at the beginning of the year. The company has gathered the data on 10 automobiles and run a regression analysis with the results shown below:.| Summary measures | ||||||
| Multiple R | 0.9689 | |||||
| R-Square | 0.9387 | |||||
| Adj R-Square | 0.9212 | |||||
| StErr of Estimate | 72.218 | |||||
| Regression coefficients | ||||||
| Coefficient | Std Err | t-value | p-value | |||
| Constant | 33.796 | 48.181 | 0.7014 | 0.5057 | ||
| Miles Driven | 0.0549 | 0.0191 | 2.8666 | 0.0241 | ||
| Age of car | 21.467 | 20.573 | 1.0434 | 0.3314 | ||
(A) Use the information above to estimate the linear regression model.
(B) Interpret each of the estimated regression coefficients of the regression model in (A).
(C) Identify and interpret the coefficient of determination (
), for the model in (A).(D) Identify and interpret the adjusted
for the model in (A). Answer
This answer is hidden. It contains 544 characters.
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NARRBEGIN: SA_79_80
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