Essay
Use the following
Does the price of used cars depend upon the model? Data were collected on the selling price and age of used Hyundai Elantras (coded as Model = 1) and Toyota Camrys (coded as Model = 0). Output from the multiple regression analysis is provided.
The regression equation is Price = 14.5 - 0.619 Age - 3.63 Model
S = 2.63465 R-Sq = 69.3% R-Sq(adj) = 68.4%
Analysis of Variance
-Interpret R2 for this model.
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69.3% of the variability in th...View Answer
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