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Inflation vs. Honda and Camry 3) Use the Data Analysis Toolpak to run a simple linear regression. Explain whether the slope estimate is statistically significant

Inflation vs. Honda and Camry

3) Use the Data Analysis Toolpak to run a simple linear regression. Explain whether the slope estimate is statistically significant using the p-value. Interpret the R-Square value. Choose one other value from the output table to interpret (not the p-value or R-Square.

4) Make a categorical or "dummy" variable to add to your regression. Run a multiple regression with this new variable and interpret the results.

5) Use the categorical variable and original independent variable to make an interaction variable. Now add this interaction variable to the multiple regression you ran in the last part. Explain which regression model is the "best" using the Adjusted R-Square.

6) Make sure that your Excel file is organized and readable.

Data set

Inflation 2018 2019 2020 2021 2022
Last 30 days 9.06% 9.06% 9.06% 9.06% 9.06%
Last 90 days 8.58% 8.58% 8.58% 8.58% 8.58%
Year-over-year 9.10% 9.10% 9.10% 9.10% 9.10%
Honda Accord 2018 2019 2020 2021 2022
Avg Price $27,236 $28,818 $30,878 $34,242 $36,297
Last 30 days -0.20% -0.12% -0.23% -0.61% -0.98%
Last 90 days 1.08% 2.45% 2.41% 2.28% 1.74%
Year-over-year 9.41% 9.98% 10.07% 9.68% 0.00%
Toyota Camry 2018 2019 2020 2021 2022
Avg Price $25,352 $27,445 $29,011 $31,959 $36,321
Last 30 days -0.28% -0.06% -0.36% -1.28% -0.57%
Last 90 days 1.11% 1.98% 0.90% -0.92% 2.68%
Year-over-year 7.04% 7.59% 8.58% 4.38% 0.00%

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