Refer to Example 3 , in which an antique collector modeled the auction price y of grandfather clocks as a function of the age x1 of the clock and the number x2 of bidders.

Recall that the hypothesized first-order model is

a. Find and interpret the adjusted coefficient of determination, Ra 2 , for this example.

b. Conduct the global F -test of model usefulness at the a = .05 level of significance.

Transcribed Image Text:

y=Bo+Bx1+ B2x2 + &