Question

In: Statistics and Probability

Vehicle type/class    Year Make Model Price MPG (city) MPG (highway Number of Airbags Convertible 2019...

Vehicle type/class    Year Make Model Price MPG (city) MPG (highway Number of Airbags
Convertible 2019 Porsche 718 Boxtster 53,208 19 22 5
Convertible 2019 Mazda MX-5 Miata 23,436 24 29 5
Convertible 2020 Audi S5 55,459 20 26 5
Sedan 2020 Hyundi Accent 15,015 25 29 6
Sedan 2020 Kia Rio 15,300 26 30 6
Sedan 2020 Toyota Yaris 16,100 30 35 6
Truck 2020 Ford F150 31,591 18 22 10
Truck 2020 Toyota Tacoma 27,361 16 20 8
Truck 2020 Chevrolet Colorado 24,852 18 22 8
Truck 2020 Dodge Ram 35,660 17 21 10

Choose TWO variables that you feel are correlated and explain why you feel that they are correlated. Do you suspect the relation is positive or negative? Why? Which would be considered the independent variable, which the dependent variable? Why?

Run a regression analysis in Excel and provide the results in your post along with your raw data. Looking at the R2 value, explain what this indicates about the strength of the relation. Then write out your Regression Equation, state if your p-value and conclusion.

Solutions

Expert Solution

Since the Price and Mileage per Gallon must have some relationship. Generally expensive cars give less mileage because they have high power engine, torque and acceleration.

Thus the relationship between them is suspect to be negative.

Mileage is dependent variable and price is independent variable. Because price of car increases as power of engine increases which lowers the mileage per gallons.

Also there is positive relationship between MPG(city) and MPG on Highway.

Regression analysis

Since R2 = 0.2698 which can be interpreted as 26.98%of the variation in the mileage is explained by the price.

For MPG city and MPG highway

The fitted regression model explain 97.54% of the variation in the MPG highway for given MPG city.

I have given my best to solve your problem. Please like the answer if you are satisfied with it. ?


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