The manager of a used-car dealership is very interested in the resale price of u

Question

The manager of a used-car dealership is very interested in the resale price of used 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, the printout had lost some of the results, identified by"A" through"F". The partial results left are displayed below SUMMARY OUTPUT Regression Statistics 0.442 Multiple R R Square Adjusted R Square Standard Error Observations 0.133 15.000 NOV MS 44.3973.154 FSignficance F 0.09914 44.397 Residual Total 13 14 14.076 227.389 Coefficients Stadard Eor Stat P-value Intercept Age 3.835 0.640 5.988 0.000 1.776 "F What is the value of "B"? A. 258 B. 667 O C. 3.75 D.3.95

Explanation / Answer

In regression standard error is nothing but square-root of residual sum of square divided by corresponding DF (n-f) = square root of MSE = square root (14.076) =3.75

So option C is correct.

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