FIND THE VALUE OF \"F\" of a uned-car dealership is very interested in the resal
ID: 3319009 • Letter: F
Question
FIND THE VALUE OF "F"
of a uned-car dealership is very interested in the resale price of used he manager cars The manager feels that the age of the car is important in determining the resale value He collects data on the age and resale value of 15 cars and runs a regression analysis with the value of the car (in thousands of dollars) as the dependent variable and the age of the car (in years) as the independent variable Unfortunately, he spilled his coffee on the printout and lost some of the resuits identified by A through 'F The partial results left are displayed below SUMMARY OUTPUT Regression Statistics Multiple R- R Square Standard Error Observations 0442 8 15.000 ANOVA df 44 397 44 397 3.154 Regression Residual Total 13 14 14.076 227 389 Coefficients Standard Stat Prvalue Error 3.835 0.640 -1.776 F Intercept D" 5.988 0.000Explanation / Answer
In Anova Table F is already given, i.e. F = 3.154
The caculated value of F is = 3.154
The critical value of F for (1,13) df at 5% level of significance is 4.6672
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