Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Say that we ran the following regression from the Used Car data set. Note that price_in_thousands is the price of a used car in thousands

image text in transcribed

Say that we ran the following regression from the Used Car data set. Note that price_in_thousands is the price of a used car in thousands of dollars, horsepower is the horsepower of the used car, and fuel_efficency is the miles per gallon of the used car.

image text in transcribed
. reg price_in_thousands horsepower fuel_efficiency Source SS df MS Number of obs = 153 F (2, 150) 184.55 Model 22529.0325 2 11264.5163 Prob > F 0.0000 Residual 9155. 53441 150 61.0368961 R- squared 0. 7110 Adj R-squared 0. 7072 Total 31684.5669 152 208.451098 Root MSE = 7.8126 price_in_thou~s Coef. Std. Err. t P> | t [95% Conf. Interval] horsepower . 2195677 . 0140746 15.60 0.000 . 1917576 . 2473778 fuel efficiency . 1412474 . 1872054 0.75 0. 452 - . 2286527 . 5111476 cons -16. 62964 6. 436618 -2.58 0. 011 -29. 34778 -3.91149

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Business Law

Authors: Anthony Liuzzo

9th edition

007802319X, 978-0078023194

Students also viewed these Economics questions

Question

Where do I give in to my bad habit?

Answered: 1 week ago