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

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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

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)

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