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Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale. whether or not it is listed as a Sub7
Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale. whether or not it is listed as a Sub7 Zero brand, the number of doors (one door or two doors), and the placement of the freezer compartment (top, side. or bottom). The table below shows the regression output from a regression model using the natural log of price as the dependent variable. The model was developed by the Bureau of Labor Statistics. Variabie Coefficient Standard Error Intercept 5.4841 9.13981 Sale price 79.9733 9.9234 SubZero brand 1.1196 9.1462 Total capacity (in cubic feet) 9.96956 9.995351 Twodoor, freezer on bottom 9.94657 9.98985 Twodoor, side freezer Base Twodoor, freezer on top 76.3432 9.93596 One door with freezer 79.7996 9.1316 One door, no freezer 76.8826 9.1491 (a) Write the regression model, being careful to exclude the base indicator variable. (Negative amounts should be indicated by a minus sign. Round your answers to 4 decimal places.) t Statistic 41.92 73.13 7.66 13.38 9.58 9.55 75.42 75.92 in{Prr'ce) = + Sale-Price + SubZero + Cepacy + 21300er80! + \f(b) Find the p-value for each coefficient, using 319 degrees of freedom. Using an a = .01, which predictor variable(s) are not significant predictors? (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.) p-value SalePrice Sub-Zero Capacity 2DoorFzBot 2DoorFz Top 1 DoorFz 1 DoorNoFZ (c) By how much does the natural log of refrigerator price decrease from a two-door, side freezer model to a two-door, top freezer model? (Round your answer to 4 decimal places.) The natural log of the price decreases by
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