18) The following results are from data where the dependent variable is the selling price of used cars, the independent variables are similar to those in the above regression along with some additional variables. The data were split into 2 samples and the following regression results were obtained from the split data. a) If we wanted to test for heteroscedasticity, what is the critical value (using a 1% level of significance)? *please round your answer to 2 decimal places*

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18) The following results are from data where the dependent variable is the selling price of used cars, the independent variables are similar to those in the above regression along with some additional variables. The data were split into 2 samples and the following regression results were obtained from the split data. a) If we wanted to test for heteroscedasticity, what is the critical value (using a 1% level of significance)? *please round your answer to 2 decimal places*
Regression Statistics
Multiple R
R Square
Adjusted R Square
0.846
0.715
0.653
Standard Error
872.9
Observations
49
ANOVA
df
SS
MS
F
Significance F
Regression
6.
76575468
8508385
11.2
1.03933E-08
Residual
40
30479336
761983
Total
49
107054804
LITU
Coefficients
Standard Error t Stat
P-value
Intercept
17270.81
2684.71
6.43
0.00
MSRP_Amt
0.35
0.06
5.55
0.00
Manual
384.14
309.31
1.24
0.22
Convertible
-814.13
375.34
-2.17
0.04
VIN8_6Cylinder
Mileage_Sale
ModelYearAge_Months
CondReptAmt
RepairAmt
InventoryAge_Days
-637.40
452.57
-1.41
0.17
-64.41
14.82
-4.35
0.00
-276.45
41.09
-6.73
0.00
-0.50
0.49
-1.02
0.31
1.52
0.70
2.17
0.04
-7.91
10.17
-0.78
0.44
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
0.724
0.524
Adjusted R Square
0.423
Standard Error
1622.0
Observations
52
ANOVA
df
MS
F
Significance F
Regression
9
116147955
12905328
4.90
0.000104741
Residual
40
105247338
2631183
Total
49
221395293
Coefficients
Standard Error t Stat
P-value
Intercept
13992.20
3169.78
4.41
0.00
MSRP_Amt
0.19
0,07
2.72
0.01
Manual
629.14
459.84
1.37
0.18
Convertible
-920.90
1060.78
-0.87
0.39
VIN8 6Cylinder
-1251.81
752.26
-1.66
0.10
Mileage_Sale
ModelYearAge_Months
CondReptAmt
RepairAmt
InventoryAge_Days
-49.71
13.24
-3.75
0.00
-153.04
55.28
-2.77
0.01
-0.49
0.32
-1.53
0.13
-1.09
1.09
-0.99
0.33
-19.88
7.84
-2.54
0.01
Transcribed Image Text:Regression Statistics Multiple R R Square Adjusted R Square 0.846 0.715 0.653 Standard Error 872.9 Observations 49 ANOVA df SS MS F Significance F Regression 6. 76575468 8508385 11.2 1.03933E-08 Residual 40 30479336 761983 Total 49 107054804 LITU Coefficients Standard Error t Stat P-value Intercept 17270.81 2684.71 6.43 0.00 MSRP_Amt 0.35 0.06 5.55 0.00 Manual 384.14 309.31 1.24 0.22 Convertible -814.13 375.34 -2.17 0.04 VIN8_6Cylinder Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -637.40 452.57 -1.41 0.17 -64.41 14.82 -4.35 0.00 -276.45 41.09 -6.73 0.00 -0.50 0.49 -1.02 0.31 1.52 0.70 2.17 0.04 -7.91 10.17 -0.78 0.44 SUMMARY OUTPUT Regression Statistics Multiple R R Square 0.724 0.524 Adjusted R Square 0.423 Standard Error 1622.0 Observations 52 ANOVA df MS F Significance F Regression 9 116147955 12905328 4.90 0.000104741 Residual 40 105247338 2631183 Total 49 221395293 Coefficients Standard Error t Stat P-value Intercept 13992.20 3169.78 4.41 0.00 MSRP_Amt 0.19 0,07 2.72 0.01 Manual 629.14 459.84 1.37 0.18 Convertible -920.90 1060.78 -0.87 0.39 VIN8 6Cylinder -1251.81 752.26 -1.66 0.10 Mileage_Sale ModelYearAge_Months CondReptAmt RepairAmt InventoryAge_Days -49.71 13.24 -3.75 0.00 -153.04 55.28 -2.77 0.01 -0.49 0.32 -1.53 0.13 -1.09 1.09 -0.99 0.33 -19.88 7.84 -2.54 0.01
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