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TABLE 10.1 A collector of antique cabinets believes that the price received for the cabinets at an antique auction increases with the age of
TABLE 10.1 A collector of antique cabinets believes that the price received for the cabinets at an antique auction increases with the age of the cabinets and with the number of bidders. A sample of 32 auction prices of antique cabinets along with their age and the number of bidders was taken from a historical record. The collector performed regression analysis based on the sample with the results of the analysis provided below. NOTE: all of the below questions refer to the table below. Model Summary Model Multiple R R-square Adjusted R Square Std. Error of the Estimate .9448 .8927 .8853 133.1365 Model 1 Regression Residual Total Model 1 Intercept Age Bidders Sum of Squares ANOVA Df Mean Square F 2 2138579.85 120.651 Sig. 0.0001 29 17725.32812 31 4277159.70 514034.52 4791194.72 Coefficients Unstandardized Coefficients B Std. Error T Sig. -1336.72205 173.3561 -7.711 0.0001 12.7362 0.9024 14.114 0.0001 85.8151 8.7058 9.857 0.0001
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