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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 ‘***’.

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 ‘***’.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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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:

 

  1. a) What is dependent and independent variables? 
  2. b) Fully write out the regression equation 
  3. c) Fill in the missing values ‘*’, ‘**’, and ‘***’. 
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 MIL -0.7527 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000 Analysis of Variance Source DF s MS Regression 3 413.1291 138.7097 0.00 *** Error 50 457.7607 2.2888 Total 53
Transcribed Image Text: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 MIL -0.7527 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000 Analysis of Variance Source DF s MS Regression 3 413.1291 138.7097 0.00 *** Error 50 457.7607 2.2888 Total 53
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