Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage. and safety rating. Intercept Age (Year) Mileage (in Thousands) Safety Rating Coefficients 31506.81 - 13424.74 -877.61 Coefficients 1168.30 Does the sign of the coefficient for the variable mileage make sense? Standard Error 4395.89 1710.97 71.21 126.51 t Stat 7.167 -7.846 - 12.324 9.235 P-value 0.0000 0.0000 0.0000 0.0000
Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage. and safety rating. Intercept Age (Year) Mileage (in Thousands) Safety Rating Coefficients 31506.81 - 13424.74 -877.61 Coefficients 1168.30 Does the sign of the coefficient for the variable mileage make sense? Standard Error 4395.89 1710.97 71.21 126.51 t Stat 7.167 -7.846 - 12.324 9.235 P-value 0.0000 0.0000 0.0000 0.0000
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
![Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage.
and safety rating.
Intercept
Age (Year)
Mileage
(in Thousands)
Safety Rating
Coefficients
31506.81
- 13424.74
-877.61
Coefficients
1168.30
Does the sign of the coefficient for the variable mileage make sense?
Standard Error
4395.89
1710.97
71.21
126.51
t Stat
7.167
-7.846
- 12.324
9.235
P-value
0.0000
0.0000
0.0000
0.0000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbed7f96-de73-44e2-9417-90c498b3ebf6%2Fd34d2608-effe-469b-a15b-4fd13f02b321%2Fbdafbv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage.
and safety rating.
Intercept
Age (Year)
Mileage
(in Thousands)
Safety Rating
Coefficients
31506.81
- 13424.74
-877.61
Coefficients
1168.30
Does the sign of the coefficient for the variable mileage make sense?
Standard Error
4395.89
1710.97
71.21
126.51
t Stat
7.167
-7.846
- 12.324
9.235
P-value
0.0000
0.0000
0.0000
0.0000
![OYes, because it is expected that as mileage increases then the price should also increase.
O No, because it is expected that as mileage increases then the price should decrease.
O No, because it is expected that as mileage increases then the price should also increase.
O Yes, because it is expected that as mileage increases then the price should decrease.
h
Keyboard Shortcuts](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdbed7f96-de73-44e2-9417-90c498b3ebf6%2Fd34d2608-effe-469b-a15b-4fd13f02b321%2Fuu23o3p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:OYes, because it is expected that as mileage increases then the price should also increase.
O No, because it is expected that as mileage increases then the price should decrease.
O No, because it is expected that as mileage increases then the price should also increase.
O Yes, because it is expected that as mileage increases then the price should decrease.
h
Keyboard Shortcuts
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman