(0) Given this Minitab printout, is the response variable in this multiple regression equation a categorical or a numenical variable? O numerical O categorical (b) Determine whether the following statement is true or false. Given this Minitab printout, the regression coefficient for miles on the car (Mileage) is statistically significant at a = 0.05. O True O False (c) Determine whether the following statement is true or false. Given this Minitab printout, the regression coefficient for engine size (Liters) is statistically significant at a - 0.05. O True O False

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The following multiple regression printout can be used to predict the price (Price) of a used car given how many miles it has on it (Mileage), the size of the engine (Liter), and whether it has leather interior (Leather), where Leather = 1 for cars that have leather interior and 0 otherwise.
Regression Analysis: Price Versus Mileage, Liter, Leather
Coefficients
Term
Coef
SE Coef
T-Value
P-Value
Constant
6, 956
511
13.61
0.000
Mileage
-0.0846
0.0179
-4.73
0.000
3,797
1,021
Liter
125
30.38
0.000
Leather
314
3.25
0.001
Regression Equation
Price = 6,9se - 0.0846 Mileage + 3,797 Liter + 1,021 Leather
(a) Given this Minitab printout, is the response variable in this multiple regression equation a categorical or a numerical variable?
O numerical
O categorical
(b) Determine whether the following statement is true or false.
Given this Minitab printout, the regression coefficient for miles on the car (Mileage) is statistically significant at a = 0.05.
O True
False
(c) Determine whether the following statement is true or false.
Given this Minitab printout, the regression coefficient for engine size (Liters) is statistically significant at a = 0.05.
O True
O False
(d) Determine whether the following statement is true or false.
Given this Minitab printout, the regression coefficient for whether the car has a leather interior (Leather) is statistically significant at a = 0.05.
O True
O False
(e) How does having leather seats affect the expected price of the car, controlling for the mileage and size of the engine?
It is expected to increase the price of the used car by $
Transcribed Image Text:The following multiple regression printout can be used to predict the price (Price) of a used car given how many miles it has on it (Mileage), the size of the engine (Liter), and whether it has leather interior (Leather), where Leather = 1 for cars that have leather interior and 0 otherwise. Regression Analysis: Price Versus Mileage, Liter, Leather Coefficients Term Coef SE Coef T-Value P-Value Constant 6, 956 511 13.61 0.000 Mileage -0.0846 0.0179 -4.73 0.000 3,797 1,021 Liter 125 30.38 0.000 Leather 314 3.25 0.001 Regression Equation Price = 6,9se - 0.0846 Mileage + 3,797 Liter + 1,021 Leather (a) Given this Minitab printout, is the response variable in this multiple regression equation a categorical or a numerical variable? O numerical O categorical (b) Determine whether the following statement is true or false. Given this Minitab printout, the regression coefficient for miles on the car (Mileage) is statistically significant at a = 0.05. O True False (c) Determine whether the following statement is true or false. Given this Minitab printout, the regression coefficient for engine size (Liters) is statistically significant at a = 0.05. O True O False (d) Determine whether the following statement is true or false. Given this Minitab printout, the regression coefficient for whether the car has a leather interior (Leather) is statistically significant at a = 0.05. O True O False (e) How does having leather seats affect the expected price of the car, controlling for the mileage and size of the engine? It is expected to increase the price of the used car by $
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