I just need an explanation with the answer for numbers 14-17. Thanks Describe th
ID: 3267251 • Letter: I
Question
I just need an explanation with the answer for numbers 14-17. Thanks
Describe the relationship between price and horsepower? What is the slope of the regression line? Explain what it means with respect to the variables. What is the y-intercept of the regression line? Explain what it means regarding the variables How much of the variation can be explained by the linear regression? How much of the variation cannot be explained by the linear regression? How many cars were in the study? Can the price be accurately predicted over the full range of horsepower? Give three ranges of horsepower where the prediction equation is accurate, fairly accurate, and not so accurate. What type of statistical test was used to test the significance of the predictors? List the test statistic, p-value and the conclusion for each predictor. The regression equation is Price =-4252 + 168*horsepower 110 cases were used. Seven cases contain missing values.Explanation / Answer
8) r= sqrt(r^2) = sqrt(0.523) = 0.7232
There is strong correlation between two variables.
9) slope= 168.33
if amount of x(horsepower) increase by 1 unit then y (Price) will increase by 168.33
10) Intercept = -4252
if amount of x(horsepower) increase by 0 unit then y (Price) will be -4252
11) 52.3% of variation can be explained by linear regression
12) 100% - 52.3 % = 47.7% of variation can not be explained by linear regression
13) 110 cars.
14) yes, by using regression equation.
15) It require complete data set.
16) t test
17) p value for constant is 0.037 and p value for slope = 0.000