Question

Assume that vou build a multiple linear regression model using three independent predictor variables, You initialy determine that X1 should be included in the model. You then test the other model combinations that indlude X1. Based on the results below, Which model would you choose and why? Std. Adj R Error Model R2 X1 0.85 0.841 2969.57 X1+X2 0,852 0.834 |3031.69 0.888 2491.95 0.902 0.884 2539.88 X1+X3 0.9 Full X1+X2. It has the lowest Adj R and the highest Standard Error x1+X3. It has the highest Adj R2 and the lowest Standard Error x1 only.It is the simplest model and not much different from the athers The Full model. It has the highest R2 None of the above What is the 95% prediction interval for a car with 20,000 miles and the luxury package? Round the final estimates to nearest whole number The dependent variable is the sales price of a used car. The independent predictor variables are: and whether or not the car has a luxury package (yes 1 mileage 0). Answer questions 31 -32. no egression stetistics mileage luxury package salesprice 26,500 Multple R 0.90 42000 R Square 0.31 2 37,500 29.400 Adiusted R Souare 0.78 C 24,000 41430 Standard tmor 3377.0 19.670 33,700 ODservations 15 5 53.800 18,550 48 900 27,200 ANOVA 7 28750 35,400 55 MS P 14,220 12 880 1 38,550 s89144028 3 2.95E+0B 25 8190504 Regression 33,000 Residua 12 15004905 11408742 10 64,330 14,990 72604033 3 Total 14 11 39.890 0 16,770 12 40100 28,750 Coefficients 5tan dard Eror t Stat P-vakues 13 25,500 15,320 32.95 intgrcapt 3847,34 2465.65 15.80 Q.00 14 35,900 0.36 0.06 -6.04 0.00 mileage 15 17,860 31.550 luxury package s557.91 150.0p0 2.10 005 Mileage and the luxury package explain 90 % of the sales price We are 95% confident that the sales price lies between $28,880 and $42,391 We are 95% confident that the sales price lies between $32,257 and $39,031 We are 95% confident that the sales price lies between $35,059 and $42,835 None of the above O O

Answer 1

1)

option B) is correct

X1+ X3 , highest adj R^2 and lowest standard error

the better model has high adjusted R^2 and low standard error

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