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 sampie oe yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000’s), AGE = age of the vehicle, MIL= the total mneage 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: The regression equation is ***** Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE 0.5042 0.2124 0.3175 ** MIL -0.7527 0.3586 -2.0991 7.7664 0.0000 ENG 4.8124 0.6196 R-sq=56.1% R-sq (adj) =59.8% Analysis of Variance MS F Source DF SS 0.00 *** 3. 413.1291 138.7097 Regression 50 457.7607 2.2888 53 Error Total 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.
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 sampie oe yearly data was taken with the view to testing the model: SALES=a+BAGE+YMIL+8ENG Where SALES= amount that a vehicle is sold for($000’s), AGE = age of the vehicle, MIL= the total mneage 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: The regression equation is ***** Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE 0.5042 0.2124 0.3175 ** MIL -0.7527 0.3586 -2.0991 7.7664 0.0000 ENG 4.8124 0.6196 R-sq=56.1% R-sq (adj) =59.8% Analysis of Variance MS F Source DF SS 0.00 *** 3. 413.1291 138.7097 Regression 50 457.7607 2.2888 53 Error Total 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.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:Beachcomber Ltd in a local car dealership that sells used and new vehicles. The manager or emt
company wants to know how different variables affect the sales of his vehicles. A random sampie of
yearly data was taken with the view to testing the model:
SALES=a+BAGE+YMIL+SENG
Where SALES= amount that vehicle is sold for($000's). AGE = age of the vehicle, MIL- hens
mheage 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
The regression equation is *****
Coef
StDev
t-ratio p-value
Predictor
Constant
1.7586
0.2525
6.9648
0.0000
AGE
0.2124
0.3175
0.5042
**
MIL
-0.7527
0.3586
-2.0991
7.7664
0.0000
ENG
4.8124
0.6196
R-sq=56.1%
R-sq(adj) =59.8%
Analysis of Variance
MS
F
Source
DF
0.00
***
3
413.1291
138.7097
Regression
50
457.7607
2.2888
Error
Total
53
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.
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