Question
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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