Use the following to answer the questions below:
Does the price of used cars depend upon the model? Data were collected on the selling price and age of used Hyundai Elantras (coded as Model = 1) and Toyota Camrys (coded as Model = 0). Output from the multiple regression analysis is provided.
The regression equation is Price = 14.5 - 0.619 Age - 3.63 Model

-Is the model effective according to the ANOVA test? Use α = 0.05. Include all details of the test.

Question

Use the following to answer the questions below:
Does the price of used cars depend upon the model? Data were collected on the selling price and age of used Hyundai Elantras (coded as Model = 1) and Toyota Camrys (coded as Model = 0). Output from the multiple regression analysis is provided.
The regression equation is Price = 14.5 - 0.619 Age - 3.63 Model
 
-Is the model effective according to the ANOVA test? Use α = 0.05. Include all details of the test.

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The Answer of Use the following to answer the questions below:
Does the price of used cars depend upon the model? Data were collected on the selling price and age of used Hyundai Elantras (coded as Model = 1) and Toyota Camrys (coded as Model = 0). Output from the multiple regression analysis is provided.
The regression equation is Price = 14.5 - 0.619 Age - 3.63 Model
 
-Is the model effective according to the ANOVA test? Use α = 0.05. Include all details of the test.

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