A market analyst is interested in estimating the relationship between the miles per gallon of fuel for motorcycles (Mileage, measured in mpg) and the age of that vehicle (Age, measured in years). She collects information on 400 motorcycles across the automobile industry and estimates the following regression equation: Mileage=48.12 -2.01Age-0.04Age2, R2=0.541. (1.23) (1.25) (1.98) The standard errors are given i parentheses. She wants to find the effect on mileage of a change in age (AAge) of motorcycles. If the age of a motorcycle increases from 1 to 2 years, the predicted change in Mileage will be -2.13 mpg. (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) If the age of a motorcycle increases from 7 to 8 years, the predicted change in its mpg (AMileage) will be -2.61 mpg. (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) So, when the age of a motorcycle increases from 7 to 8 years, the decrease i total mileage will be higher as compared to the change when age increases from 1 to 2 years. The predicted change in mileage when the age of a motorcycle increases from 5 to 6 years is: AMileage = (Bo + ₁ ×6+₂×6²) - (Bo+B₁ ×5+₂×5²) = (6-5)₁ + (36-25)₂ = ₁ +11/₂. If the F-statistic testing the hypothesis ₁ +11/2=0 is F= 200.18, then the 95% confidence interval for the change in the predicted value of mileage is (.). (Round your answers to two decimal places. Enter a minus sign if your answer is negative.) We reject or fail to reject a hypothesis using the criterion does the hypothesized value fall in our 95% confidence interval. Based on the calculated confidence interval, we can say that at the 5% significance level, we will the

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

10

A market analyst is interested in estimating the relationship between the miles per gallon of fuel for motorcycles (Mileage, measured in mpg) and the age of that vehicle (Age, measured in years). She collects information on 400 motorcycles
across the automobile industry and estimates the following regression equation:
Mileage=48.12 -2.01Age-0.04Age², R² = 0.541.
(1.23) (1.25)
(1.98)
The standard errors are given in parentheses. She wants to find the effect on mileage of a change in age (AAge) of motorcycles.
If the age of a motorcycle increases from 1 to 2 years, the predicted change in Mileage will be -2.13 mpg.
(Round your answer to two decimal places. Enter a minus sign if your answer is negative.)
If the age of a motorcycle increases from 7 to 8 years, the predicted change in its mpg (AMileage) will be -2.61 mpg.
(Round your answer to two decimal places. Enter a minus sign if your answer is negative.)
So, when the age of a motorcycle increases from 7 to 8 years, the decrease in total mileage will be higher as compared to the change when age increases from 1 to 2 years.
The predicted change in mileage when the age of a motorcycle increases from 5 to 6 years is:
= (Bо + B₁ × 6 + B₂ × 6² ) − (Bo + B₁ × 5 + ß₂ ×5²) = (6 − 5)³₁ + (36 − 25)ß2 = Â₁ + 11ß₂.
If the F-statistic testing the hypothesis ₁ + 11/₂=0 is F= 200.18, then the 95% confidence interval for the change in the predicted value of mileage is (,).
(Round your answers to two decimal places. Enter a minus sign if your answer is negative.)
We reject or fail to reject a hypothesis using the criterion does the hypothesized value fall in our 95% confidence interval. Based on the calculated confidence interval, we can say that at the 5% significance level, we will
hypothesis ₁ + 11₂ = 0.
AMileage=
the
Transcribed Image Text:A market analyst is interested in estimating the relationship between the miles per gallon of fuel for motorcycles (Mileage, measured in mpg) and the age of that vehicle (Age, measured in years). She collects information on 400 motorcycles across the automobile industry and estimates the following regression equation: Mileage=48.12 -2.01Age-0.04Age², R² = 0.541. (1.23) (1.25) (1.98) The standard errors are given in parentheses. She wants to find the effect on mileage of a change in age (AAge) of motorcycles. If the age of a motorcycle increases from 1 to 2 years, the predicted change in Mileage will be -2.13 mpg. (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) If the age of a motorcycle increases from 7 to 8 years, the predicted change in its mpg (AMileage) will be -2.61 mpg. (Round your answer to two decimal places. Enter a minus sign if your answer is negative.) So, when the age of a motorcycle increases from 7 to 8 years, the decrease in total mileage will be higher as compared to the change when age increases from 1 to 2 years. The predicted change in mileage when the age of a motorcycle increases from 5 to 6 years is: = (Bо + B₁ × 6 + B₂ × 6² ) − (Bo + B₁ × 5 + ß₂ ×5²) = (6 − 5)³₁ + (36 − 25)ß2 = Â₁ + 11ß₂. If the F-statistic testing the hypothesis ₁ + 11/₂=0 is F= 200.18, then the 95% confidence interval for the change in the predicted value of mileage is (,). (Round your answers to two decimal places. Enter a minus sign if your answer is negative.) We reject or fail to reject a hypothesis using the criterion does the hypothesized value fall in our 95% confidence interval. Based on the calculated confidence interval, we can say that at the 5% significance level, we will hypothesis ₁ + 11₂ = 0. AMileage= the
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman