Regression Analysis Price versus Mileage Cruise The regressi

Regression Analysis: Price versus Mileage, Cruise, The regression equation is Price = 35485-0.172 Mileage + 6858 Cruise - 18263 Cylinder-4-17982 Cylinder-6 Coef SE Coef Predictor Constant Mileage-0.17245 0.02839 -6.07 0.000 Cruise Cylinder4 -18263.3 773.2 -23.62 0.000 Cylinder_6 -17981.6 761.2 23.62 0.000 35485 1025 34.62 0.000 6858.3 577.5 11.88 0.000 S= 6585.26 R-Sq 55.8% R-Sq (adj) =55.6% =

Solution

We can read the coefficient given, 1000*(-0.17245) = -172.45 i.e, decrease by 172.45 in price is expected