FinanExamma Practice ECO256 This examination is graded out of 25 points. Dave wo

Question

FinanExamma Practice ECO256 This examination is graded out of 25 points. Dave would to learn what characteristics the average gas mileage of automobiles, MPG like Data on automobile models from the year determine Among the included to 2003 were explain gas DRIVE (whether the car is front wheel drive or rear wheel drive (0). (1) CAPACITY (fuel capacity) gallons LENGTH (inches) inches) WHEELBASE (wheelbase) WIDTH inches) TURNING CIRCLE (feet) WEIGHT (pounds) You may need to use of the tables and graphs that accompany this test to answer these questions. all significant linear relationship between 1. Using a 0.05 level of signif determine if there is a the relevant evidence. miles per gallon (MPG) and the set of conclusion. (2 Points) including the critical value of the test statistic, and state your 2. on your to (a), state whether the p-value for the test statistic used to test the null hypothesis in question (a) is greater less than, to 0 point) 3. According to the least squares estimate, a decrease in fuel capacity of one gallon is associated in mileage per ga (i with

Explanation / Answer

1. The value of the F stat after fitting all the explanatory variables linearly is 40.423 and it is significant at the 0.05 level
Critical F6,99,0.05 = 0.27. So, F > Fcrit as we conclude that the model is significant

2. The p value is very c;lose to 0 and is hence less than 0.05

3. For a decrease in fuel capacity by 1 gallon, there is increase in MPG by 0.6497.

4. The p value for turning circle is 0.001, which is less than 0.01 and hence we can say that decrease in turning circle increases MPG as the sign of slope is negative.

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