Question
I need some assistance with these 3 questions Find the equation of the least-squares line (i.e. fill in the numbers for =+y^=a+bx), where y is
I need some assistance with these 3 questions
- Find the equation of the least-squares line (i.e. fill in the numbers for =+y^=a+bx), where y is price and x is mileage.
- Find & practically interpret the slope (b)
- Find & interpret the y-intercept (a) if an interpretation is possible. If it's not possible, just report the y-intercept and explain whyit can not be interpreted practically
These the data I have so far
Simple linear regression results:
Dependent Variable: Price Independent Variable: Mileage Price = 41116.768 - 0.17675013 Mileage Sample size: 30 R (correlation coefficient) = -0.46576164 R-sq = 0.2169339 Estimate of error standard deviation: 9248.6584
Parameter estimates:
| Parameter | Estimate | Std. Err. | Alternative | DF | T-Stat | P-value |
|---|---|---|---|---|---|---|
| Intercept | 41116.768 | 2661.5978 | 0 | 28 | 15.448152 | |
| Slope | -0.17675013 | 0.06346236 | 0 | 28 | -2.7851175 | 0.0095 |
Analysis of variance table for regression model:
| Source | DF | SS | MS | F-stat | P-value |
|---|---|---|---|---|---|
| Model | 1 | 6.6350549e8 | 6.6350549e8 | 7.7568794 | 0.0095 |
| Error | 28 | 2.3950551e9 | 85537682 | ||
| Total | 29 | 3.0585606e9 |
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Advances In Mathematical Economics Volume 19
Authors: Shigeo Kusuoka, Toru Maruyama
1st Edition
4431554890, 9784431554899
