An antiques dealer is interested in factors that might influ

An antiques dealer is interested in factors that might influence the final selling price of grandfather clocks at 32 previously auctioned clocks) includes the age of the clock (Age), the number of bidders (Bidders) at the auction, and the final selling price (Y) of the clocks SUMMARY OUTPUT auction. Her data (from ). the number of bidders (Bidders) at the auction, and the final Regression Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.944834723 0.892712653 0.885313526 133.1365018 32 ANOVA sS MS Regressiorn Residual 2 4277159.703 2138580 120.6511 8.7690E-15 29 514034.5153 17725.33 31 4791194219 Total ts Standard Error tstat P-value Lower 95% Up per 95% 1336.722052 173.3561261 7.71084 1.67E-08 1691.27514 92 169645 Intercept Age Bidders 12.73619884 0.902380487 14114 1.6E-14 10.89062352 1458177416 68.00986071 103.6204045 85.8151326 8.705756815 9.857286 9.14E-11 6

Solution

variability explained by model = R-squared = 0.8927 = 89%