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SCENARIO 18-9
What are the factors that determine the acceleration time (in sec. )from 0 to 60 miles per hour of a car? Data on the following variables for 171 different vehicle models were collected:
Accel Time: Acceleration time in sec.
Cargo Vol: Cargo volume in cu.ft.
HP: Horsepower MPG: Miles per gallon
SUV: 1 if the vehicle model is an SUV with Coupe as the base when SUV and Sedan are both 0 Sedan: 1 if the vehicle model is a sedan with Coupe as the base when SUV and Sedan are both 0
The regression results using acceleration time as the dependent variable and the remaining variables as the independent variables are presented below.
The various residual plots are as shown below.
The coefficient of partial determination ( R2 yj.(All variables except j ) )of each of the 5 predictors are, respectively,0.0380,0.4376,0.0248,0.0188,and 0.0312.
The coefficient of multiple determination for the regression model using each of the 5 variables X j as the dependent variable and all other X variables as independent variables ( R2 j )are,respectively, 0.7461,0.5676,0.6764,0.8582,0.6632.
-Referring to Scenario 18-9,what is the value of the test statistic to determine whether SUV makes a significant contribution to the regression model in the presence of the other independent variables at a 5% level of significance?
Effectiveness
The degree to which something achieves its intended outcome or purpose, often used in business to evaluate the success of strategies or products.
Television Commercials
Short marketing messages broadcasted on television to promote products, services, or ideas to a wide audience.
Response Bias
A tendency of respondents to answer questions on a survey untruthfully or misleadingly, often to present themselves in a favorable light or due to misunderstanding.
Market Research
The process of gathering, analyzing, and interpreting information about a market, including information about potential customers and competitors.
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