Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating.InterceptAge (Year)Mileage(in Thousands)Safety RatingDoes the sign of the coefficient for the variable age make sense?AnswerCoefficients15068.49-1917.82-224.93Coefficients620.02Standard Error1951.90250.1416.9969.20P-value0.00007.720-7.667 0.0000t Stat-13.2368.9600.00000.0000O No, because it is expected that as age increases then the price should also increase.O Yes, because it is expected that as age increases then the price should decrease.O No, because it is expected that as age increases then the price should decrease.O Yes, because it is expected that as age increases then the price should also increase.TablesKeypKeyboard Shor

Solution In the model the price of a used car is the dependent variable and this model is multiple…

Consider the following computer output from a multiple regression analysis relating the price of a used car to the variables: age of car, mileage, and safety rating. Intercept Age (Year) Mileage (in Thousands) Safety Rating Does the sign of the coefficient for the variable age make sense? Answer Coefficients 15068.49 -1917.82 -224.93 Coefficients 620.02 Standard Error 1951.90 250.14 16.99 69.20 t Stat 7.720 -7.667 P-value 0.0000 0.0000 -13.236 0.0000 8.960 0.0000 O No, because it is expected that as age increases then the price should also increase. O Yes, because it is expected that as age increases then the price should decrease. O No, because it is expected that as age increases then the price should decrease. O Yes, because it is expected that as age increases then the Tables Ke Keyboard She