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In: Statistics and Probability
Question 3 0 / 3 pts Suppose you are working with the automobile data set and...
Question 3 0 / 3 pts Suppose you are working with the automobile data set and got the following printout. Assume that you already tested the quadratic terms and dropped them out of the model. The following printout was created.
Least Squares Linear Regression of Price
Predictor
Variables Coefficient Std Error T P VIF
Constant 20339.7 1039.20 19.57 0.0000 0.0
Mileage -0.06642 0.02264 -2.93 0.0052 1.8
Model 1255.69 1454.48 0.86 0.3924 7.0
X1X2 -0.04875 0.03590 -1.36 0.2244 6.6
Following our Project Game Plan, what would you do next?
Use this printout and continue testing by conducting a t-test on the Model variable.
Drop the interaction term from the model and continue testing by conducting a t-test on the Model term.
Stop! You are finished model building. This is your best model. - Incorrect!
Conduct a global F-test on this model to determine if anything is useful in predicting price. Stop.
Drop the interaction term from this model and you are finished model building.
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Male
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5
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0
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5
3
1
12
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1
6
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1
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8
1
3
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