QUESTTON 23 points Save Answer To celebrate a closure of the deal, Princess Leia

Question

QUESTTON 23 points Save Answer To celebrate a closure of the deal, Princess Leia's father, Lord Vader, wants to buy an expensive bottle of wine. However, he wants to make sure he doesn't overpay for the wine So, he commissions a study on effects of environmental variables and age on the price of wine. Output for one of the models that Lord Vader considers to use to estimate the price of wine, is below. It shows the regression of the price of wine versus average temperature (in Fahrenheit degrees) during ripening period and the age of the bottle (in years) P-value Coefficients Standard Error 2.376 0.147 0.013 Lower 95% Upper 95% 2.260 0.867 0.052 t Stat Intercept AverageTemperature (2.668) 0.563 0.026 (1.123) 3.841 1.994 27.36% 0.09% 5.87% (7.596) 0.259 (0.001) What is the Upper Limit of the 95% confidence interval for Age coefficient to 3 decimal points precision

Explanation / Answer

Solution: From the table, the upper limit of the 95% confidence interval for Age coefficient is 0.052(the last column cocorrespo corresponding to Age row).

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