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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 Sub-
Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale, whether or not it is listed as a Sub- 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. Variable Coefficient Standard Error t Statistic Intercept 5. 4841 0. 13081 41.92 Sale price -0. 0733 0. 0234 -3.13 Sub-Zero brand 1. 1196 0. 1462 7. 66 Total capacity (in cubic feet) 0. 06956 0. 005351 13.00 Two-door, freezer on bottom 0. 04657 0. 08085 0. 58 Two-door, side freezer Base Two-door, freezer on top -0. 3432 0. 03596 -9.55 One door with freezer -0. 7096 0. 1310 -5.42 One door, no freezer -0. 8820 0. 1491 -5.92 (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.)
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