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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
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. Coefficients Coefficients Standard Error t Stat P-value Intercept 19178.07 2593.15 7.396 0.0000 Age (Year) -4794.55 545.35 -8.792 0.0000 Mileage -388.10 32.05 (in Thousands) - 12.110 0.0000 Safety Rating 757.09 85.28 8.878 0.0000 Does the sign of the coefficient for the variable age make sense?O No. because it is expected that as age increases then the price should decrease. '3) Yes, because it is expected that as age increases then the price should decrease. O No. because it is expected that as age increases then the price should also increase. 0 Yes, because it is expected that as age increases then the price should also increase
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