(c) Interpret the estimated coefficients stating if they are statistically significant in explainingprice of houses. Also interpret R squared.SUMMARY OUTPUT price and bathsRegression StatisticsMultiple R 0.382173R Square0.146056Adjusted F 0.137765Standard E 0.364917ObservatioANOVAdfRegressionResidualTotal105SSMSF ignificance F1 2.345936 2.345936 17.61679 5.75E-05103 13.71597 0.133165104 16.0619Coefficientstandard Err t Stat P-value Lower 95% Upper 95%.ower 95.0%/pper 95.0%1.375992 0.171692 8.014289 1.8E-12 1.03548 1.716503 1.03548 1.716503X Variable 0.003188 0.00076 4.197236 5.75E-05 0.001682 0.004695 0.001682 0.004695Intercept

1. Coefficient for Intercept (1.375992): The intercept represents the estimated value of the…

Answered: (c) Interpret the estimated…

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter4: Polynomial And Rational Functions

Section4.6: Rational Functions

Problem 11SC: Find the mean hourly cost when the cell phone described above is used for 240 minutes.

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Louis Katz, a cost accountant at Papalote Plastics, Inc. (PPI), is analyzing the manufacturing costs of a molded plastic telephone handset produced by PPI. Louis's independent variable is production lot size (in 1,000's of units), and his dependent variable is the total cost of the lot (in $100's). Regression analysis of the data yielded the following tables. Coefficients Standard Error t Statistic p-value Intercept 3.996 1.161268 3.441065 0.004885 x 0.358 0.102397 3.496205 0.004413 Source df SS MS F Se = 0.898 Regression 1 9.858769 9.858769 12.22345 r2 = 0.526341 Residual 11 8.872 0.806545 Total 12 18.73077 Using a = 0.05, Louis should ________________.
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