Answered: Beachcomber Ltd in a local car…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Beachcomber Ltd in a local car dealership that sells used and new vehicles. The manager of the
company wants to know how different variables affect the sales of his vehicles. A random sample of
yearly data was taken with the view to testing the model:
SALES=?+?AGE+?MIL+?ENG
Where SALES= amount that a vehicle is sold for($000’s), AGE = age of the vehicle, MIL= the total
mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was
processed using MINITAB and the following is an extract of the output obtained:

a) What is dependent and independent variables?
b) Fully write out the regression equation
c) Fill in the missing values ‘*’, ‘**’, and ‘***’.
d) Hence test whether ? is significant. Give reasons for your answer.
e) Perform the F Test making sure to state the null and alternative hypothesis.
f) Given an interpretation of the term “R-sq” and comment on its value.

The regression equation is *****
Predictor
Coef
StDev
t-ratio
p-value
Constant
1.7586
0.2525
6.9648
0.0000
AGE
0.2124
0.3175
*
0.5042
-0.7527
0.3586
-2.0991
MIL
**
ENG
4.8124
0.6196
7.7664
0.0000
Analysis of Variance
Source
DF
MS
Regression
3
413.1291
138.7097
***
0.00
Error
50
457.7607
2.2888
Total
53

Expert Solution

Step 1:- (a), (b) and (c)

Step by step

Solved in 2 steps with 2 images

Knowledge Booster

$Data Collection, Sampling Methods, and Bias$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions