Answered step by step
Verified Expert Solution
Question
1 Approved Answer
An analyst from the service provider company, Uper is interested to study the distance (in km) covered by an Uper driver based on the age
An analyst from the service provider company, Uper is interested to study the distance (in km) covered by an Uper driver based on the age and the number of years of driving experience. A statistical analysis at 5% level of significance is conducted using Microsoft Excel and the output is shown in Figure 3. SUMMARY OUTPUT Regression Statistics Multiple R 0.6481 R Square 0.6200 Adjusted R Square 0.5040 ED STATISTIC Standard Error 4425.9644 Observations 13 ANOVA Significance of 55 MS F F Regression 2 141840608.6 70920304 3.6204 0.0456 Residual 10 195891607.1 19589161 Total 12 337732215.7 Standard Coefficients Error t Stat P-value Lower 95% Upper 95% Intercept 38399.138 4114.2949 9.3331 2.98E-06 29231.9174 47566.358 age -42.1645 195.5900 -0.2156 0.8337 -477.9661 393.6371 experience -1476.6847 924.6610 -1.597 0.1413 -3536.9577 583.5884ii) Interpret the regression coefficient for driving experience variable. [2 Marks] iii) Use the P-value approach to test whether there exists significant relationship between the driver's age and the number of years of driving experience for the distance covered. [5 Marks]iv) Based on Figure 3, are both independent variables significant to be considered as the recruitment criteria for Uper drivers? [3 Marks] V) State the predicted linear regression model. Then, use the model to predict the distance covered by a 23-year-old driver with 3 years of driving experience
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started