STATS - Small cars offer higher fuel efficiency
Question # 00056997
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Updated on: 03/25/2015 01:01 AM Due on: 03/25/2015
Small cars offer higher fuel efficiency, are easy to maneuver and park, and have generally performed well in road tests. The following data show the overall fuel efficiency rating (miles per gallon), predicted reliability (highest=5), safety rating (highest =5), and the price ($) for 20 small cars.
a) Determine the estimated regression quation that can be used to predict the price of a small car given its overall fuel efficiency rating, predicted reliability, and safety rating.
b) Use the F test to determine the overall significance of the relationship. What is the conclusion at the 0.5 level of significance?
c) Use the t test to determine the significance of each independent variable. What is your conclusion at the 0.5 level of significance?
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Solution: STATS - Small cars offer higher fuel efficiency (Sol)