Answered: Question 4 Beachcomber Ltd in a local…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question 4
Beachcomber Ltd in a local car dealership that sells used and new vehicles. The manager of the
company wants to know how different variables affect the sales of his vehicles. A random sample of
yearly data was taken with the view to testing the model:
SALES=?+?AGE+?MIL+?ENG
Where SALES= amount that a vehicle is sold for($000’s), AGE = age of the vehicle, MIL= the total
mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was
processed using MINITAB and the following is an extract of the output obtained:

d) Hence test whether ? is significant. Give reasons for your answer.
e) Perform the F Test making sure to state the null and alternative hypothesis.
f) Given an interpretation of the term “R-sq” and comment on its value.

The regression equation is *****
Predictor
Coef
StDev
t-ratio
p-value
Constant
1.7586
0.2525
6.9648
0.0000
AGE
0.2124
0.3175
0.5042
MIL
-0.7527
0.3586
-2.0991
**
ENG
4.8124
0.6196
7.7664
0.0000
Analysis of Variance
Source
DF
MS
F
Regression
3
413.1291
138.7097
0.00
***
Error
50
457.7607
2.2888
Total
53

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