Below is some of the regression output from a regression of the amount various customers paid for a new car (expressed in dollars) versus the age of the customer (expressed in years), the number of previous cars the customer had purchased from the dealership in the past, a dummy variable indicating the gender of the customer (=1 for a Man and = 0 for a woman), and an interactive term the multiplies the age of the customer with the gender dummy variable. Regression Statistics Multiple R 0.963 R Square Adjusted R Square Standard Error Observations 20 ANOVA df SS MS F Significance F Regression 24686354.49 6171589 47.8 2.3289E-08 Residual 129243 Total 26625000 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 6579.1 352.1 18.68 0.000 5828.5 7329.6 Age 68.2 33.1 0.089 -11.2 # of Prev. -812 295.3 -2.73 0.016 -1435.0 -176.2 Man -567 304.8 0.051 2.7 Age*Man 13.5 8.8 1.77 0.097 -3.2 34.4 Based on the regression output, what is predicted amount a customer who is a 54 year old male, has bought 0 previous car(s) from the dealership? (please express your answer using 1 decimal places)
Below is some of the regression output from a regression of the amount various customers paid for a new car (expressed in dollars) versus the age of the customer (expressed in years), the number of previous cars the customer had purchased from the dealership in the past, a dummy variable indicating the gender of the customer (=1 for a Man and = 0 for a woman), and an interactive term the multiplies the age of the customer with the gender dummy variable. Regression Statistics Multiple R 0.963 R Square Adjusted R Square Standard Error Observations 20 ANOVA df SS MS F Significance F Regression 24686354.49 6171589 47.8 2.3289E-08 Residual 129243 Total 26625000 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 6579.1 352.1 18.68 0.000 5828.5 7329.6 Age 68.2 33.1 0.089 -11.2 # of Prev. -812 295.3 -2.73 0.016 -1435.0 -176.2 Man -567 304.8 0.051 2.7 Age*Man 13.5 8.8 1.77 0.097 -3.2 34.4 Based on the regression output, what is predicted amount a customer who is a 54 year old male, has bought 0 previous car(s) from the dealership? (please express your answer using 1 decimal places)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Below is some of the regression output from a regression of the amount various customers paid for a new car (expressed in dollars) versus the age of the customer (expressed in years), the number of previous cars the customer had purchased from the dealership in the past, a dummy variable indicating the gender of the customer (=1 for a Man and = 0 for a woman), and an interactive term the multiplies the age of the customer with the gender dummy variable.
Regression Statistics
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Multiple R
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0.963
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R Square
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Adjusted R Square
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Standard Error
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Observations
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20
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ANOVA
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df
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SS
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MS
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F
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Significance F
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Regression
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24686354.49
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6171589
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47.8
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2.3289E-08
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Residual
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129243
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Total
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26625000
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Coefficients
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Standard Error
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t Stat
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P-value
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Lower 95%
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Upper 95%
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Intercept
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6579.1
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352.1
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18.68
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0.000
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5828.5
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7329.6
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Age
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68.2
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33.1
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0.089
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-11.2
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# of Prev.
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-812
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295.3
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-2.73
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0.016
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-1435.0
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-176.2
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Man
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-567
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304.8
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0.051
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2.7
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Age*Man
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13.5
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8.8
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1.77
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0.097
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-3.2
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34.4
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Based on the regression output, what is predicted amount a customer who is a 54 year old male, has bought 0 previous car(s) from the dealership? (please express your answer using 1 decimal places)
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