Questions:

You are trying to predict a price of a car (in thousands) based on the following variables: Wheel Base (inches) Length of Car (inches) Width of Car (inches) Height (inches) Weight (hundred of lbs) Number of Cylinders Engine Displacement (liters) Estimated MPG Type of a Car: Sedan, Coupe, Hatchback, Minivan You ran the regression model in Excel and got the following output: 4 SUMMARY OUTPUT Regression Statistics Multiple R 0.7688 R Square 0.5911 Adjusted R Square 0.5268 Standard Error 5.7772 Observations 82 ANOVA SUMMARY OUTPUT Regression Statistics Multiple R 0.7688 R Square 0.5911 Adjusted R Square 0.5268 Standard Error 5.7772 Observations 82 ANOVA SS MS F Significance F Regression 11 3376.6625 306.9693 9.1973 6.24E-10 Residual 70 2336.3194 33.3760 Total 81 5712.9819 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 54.21227 30.69387 1.76622 0.08172 7.00473 115.42927 Wheel Base (inches) 0.13511 0.36510 0.37008 0.71244 -0.59305 0.86327 Length of Car (inches) -0.40668 0.15655 -2.59786 0.01143 -0.71890 -0.09446 Width of Car (inches) -0.05371 0.25628 -0.20958 0.83460 -0.56484 0.45742 Height (inches) -0.67761 0.50631 -1.33832 0.18512 -1.68742 0.33220 Weight (hundred of Ibs) 1.93460 0.51587 3.75020 0.00036 0.90574 2.96347 Number of Cylinders 1.03700 1.19235 0.86971 0.38743 -1.34106 3.41507 Engine Displacement (liters) 0.35811 1.83413 0.19525 0.84577 -3.29995 4.01617 Estimated MPG 0.04984 0.23269 0.21418 0.83103 -0.41425 0.51392 Sedan -0.69248 1.92380 -0.35995 0.71996 -4.52937 3.144413303" 'U.DS'ID J..5JU 11.53353 U.I1350 4.3455! 3.1444\". Coupe 1.23712 2.09178 0.59142 0.55615 -2.93481 5.40905 Minivan 0.51522 2.12405 0.24257 0.80905 -3.72106 4.75151 Which of the following statements are true (select all that apply)? C] a) Based on the F-test the model is not significant overall. D b) Car weight is statistically significant in this model at 5% significance level. C] c) Around 77% of the variations in car sale price can be explained by the model. C] (:1) Keeping other predictors constant, an extra inch in the car length reduces car price by $406.68 on average. C] e) The price of a minivan is $1,237.12 higher compared to a coupe when all other parameters are the same