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Good day, Please try to answer all the parts with the correct answers, please take the question as you see and if the answer is
Good day, Please try to answer all the parts with the correct answers, please take the question as you see and if the answer is reasonably good, I will upvote with 5 star ratings straight away so good ratings for you so dont worry about downvoting so I can learn without delay. if handwriting no problem but please make it clear to read! Thank you! No missing info and no references needed!
Q7. A researcher is interested in the relationship between the number of miles that a used car has been driven (denoted by mileage) and its selling price. Based on a random sample of 60 of a particular model of used cars, the following model was estimated: y=Bo+le+8 Where y is the selling price (in thousands of E's) and x is the mileage (in thousands of miles). Least-squares estimates are provided in the table below: Estimate Std. Error (Intercept) 17.49 0-48 mile 9 0.17 0.02 You are also told the following: 1" 20. -5\"): = 115.7 . 2(5). y)2 = 121.3 i=1 A. Interpret the estimated coefficient on mileage. (2 points) B. Test the null hypothesis that B1=0 against a two-sided alternative using a 5% significance level. (2 points] C. Calculate the coefficient of determination and interpret it in context. (3 points) D. Use the provided information to calculate ?=1(x5 .732 (3 points)Step by Step Solution
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