Solution-Is a bivariate model adequate to explain vehicle

Is a bivariate model adequate to explain vehicle prices

Assignment Help Econometrics

Reference no: EM131097550

Below are fitted regressions based on used vehicle ads. Observed ranges of X are shown. The assumed regression model is AskingPrice = f (VehicleAge).

(a) Interpret the slopes.
(b) Are the intercepts meaningful? Explain.
(c) Assess the fit of each model.
(d) Is a bivariate model adequate to explain vehicle prices?

If not, what other predictors might be considered? (Data are from Detroit's AutoFocus 4, Issue 38 [September 17-23, 2004]. Data are for educational purposes only and should not be viewed as a guide to vehicle prices.)

Vehicle	n	Intercept	Slope	R2	Min Age	Max Age
Ford Explorer	31	22,252	-2,452	.643	2	6
Ford F-150 Pickup	43	26,164	-2,239	.713	1	37
Ford Mustang	33	21,308	-1,691	.328	1	10
Ford Taurus	32	13,160	-906	.679	1	14

Reference no: EM131097550

Questions Cloud

Research on computer ergonomic and describe : Conduct a research on computer ergonomic and describe how you can improve your workspace. write a one-page report describing what is ergonomic and areas that need be improved in your workspace. Use APA formatting and referencing style.

Evaluate the credit worthy of a client : Write C# application program to be used to evaluate the credit worthy of a client. The program reads the credit limit and the price and quantity of the item to be purchased by the client. If the value of the goods is more than the credit limit, th..

Which would you expect to have a low level of economic rent : Which of the following individuals would you expect to have a high level of economic rent, and which would you expect to have a low level of economic rent? Explain why for each.

Primary key of the table below : Which of the following is the primary key of the table below (you can assume the data are representative)?

Is a bivariate model adequate to explain vehicle prices : Interpret the slopes. Are the intercepts meaningful? Explain. Assess the fit of each model. Is a bivariate model adequate to explain vehicle prices?

An interesting-organized-reflective perspective : Nick Carraway comes into contact with a culture he has little experience with. Describe a time you were in a culture different from your own. You might have been in another country, or you might have been in a different region of this country, o..

Create a testbench to test the description : Create a testbench to test the description, testing load, clear, simultaneous load/clear, and holding the register value.

Highest normal form that this relation is in : Consider the relation below, ONLEAVE, which lists the faculty members who are on leave (Faculty_Name). Each Faculty Member's name is UNIQUE. Each Faculty Member belongs to only one DEPARTMENT. Each DEPARTMENT, has one CHAIR. The Primary Key of thi..

How could the u.s. apply the selected concepts : How could the U.S. apply the selected concepts to improve their own homeland security systems? Explain and be specific - How could these concepts have been applied to recent terrorist attacks or natural disasters?

User Account

All Pages

Is a bivariate model adequate to explain vehicle prices

Reference no: EM131097550

Reference no: EM131097550

Questions Cloud

Reviews

Write a Review

Econometrics Questions & Answers

Design a simple econometric research project

Multiplicative decomposition method

Market for cigarettes

Solve the forecast model

What are the marginal abatement cost functions

Write the t statistic for testing the null hypothesis

What is economics system

Multiple choice questions related to market concentration

Calculating number of units produced by firm

Question about mobile commerce

Calculating the average days past due and average flow time

Mechanism of an english auction and second price auction

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT