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1/ A multiple regression analysis was conducted to determine the influence of various characteristics on aircraft resale prices. Coefficients Standard Error tStat P-value Lower 95%
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A multiple regression analysis was conducted to determine the influence of various characteristics on aircraft resale prices. Coefficients Standard Error tStat P-value Lower 95% Upper 95% Intercept 949,826.11 17,836.9492 7.794 2.636 x 10-5 819,685.8834 2,211,313.6523 Seats 144.46 7.9917 6.8177 3.3095 x 10-5 36.8291 183.1311 Age 4,087.55 290.1378 -8.6266 6.557 x 10-5 5.597.06 -1,273.27 Given the following parameters, what is the aircraft's estimated resale price? Model Estimated Change from Model Intercept 949,826.11 949.826.11 Seats 50 65 15 Age 10 10 0A multiple regression analysis was conducted on aircraft sales data to determine the influence of various characteristics on aircraft resale prices. Coefficients Standard Error tStat P-value Lower 95% Upper 95% Intercept 1,160,159 16,125.6169 3.321 7.2499 x 10-5 754,234.6669 2,447,168.0895 Seats 100.4 7.7794 7.6422 7.514 x 10-5 30.4123 180.624 Age 4,811.74 325.5764 -6.2159 3.0306 x 10-5 6,799.04 -1,897.23 Good Condition 145,318.95 11,280.2729 5.4554 5.8897 x 10-5 7,613.76 38,525.61 Excellent Condition 490,991.96 12,429.4999 3.1097 3.1406 x 10-5 29,795.95 54,057.26 Given the following parameters, what is the resale aircraft's estimated price? Avg Aircraft in dataset Resale Aircraft Seats 50 65 Age 10 5 Condition Fair GoodStep by Step Solution
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