20210422174056hw 3 Spring 2021

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User Generated

Subject

Statistics

School

University of South Florida

Course

QMB 3200

Type

Homework

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qbhtc758

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QMB 3200 Name ________________________

Project 3 Spring 2021

Instructions:

1. Answer the following short answer questions regarding your regression project.

2. Make sure to answer in the words of your data set when appropriate

3. This project is worth 60 points

PART I - Data Description –

1. Describe the dependent variable that you are trying to predict in your project. Identify the

units that it will be measured in. (2 points)

The dependent variable is price, it’s measure in dollars. It has 75 observations for 3

different models of automobiles. But since we will be dropping model 2, we will end up

with only 50 observations and 2 models.

2. Describe the quantitative independent variable that you are using in your project.

Identify the units that it will be measured in. (2 points)

The quantitative independent variable is Mileage that is measured in miles. It has 75

observations for 3 different models of automobiles. But since we will be dropping model

2, we will end up with only 50 observations and 2 models.

3. Describe the qualitative independent variable that you are using in your project. Identify

how the 0’s and 1’s are defined. (2 points)

The qualitative independent variable is Model that has 3 categories, model 1, 2 and 3. It

also has 75 observations for 3 different models of automobiles. But since we will be

dropping model 2(since it has the middle mean), we will end up with only 50 observations

and 2 models. Also the variable will be recoded so model one will be number 0 and

model 3 will be number 1 .

4. Give your experimental unit (the item you measured to get the values of your variables)

for this data. (2 points)

The experimental unit is the cars we are using in the study. We take from them the price,

mileage and model.

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QMB 3200 Name ________________________ Project 3 Spring 2021 Instructions: 1. Answer the following short answer questions regarding your regression project. 2. Make sure to answer in the words of your data set when appropriate 3. This project is worth 60 points PART I - Data Description – 1. Describe the dependent variable that you are trying to predict in your project. Identify the units that it will be measured in. (2 points) The dependent variable is price, it’s measure in dollars. It has 75 observations for 3 different models of automobiles. But since we will be dropping model 2, we will end up with only 50 observations and 2 models. 2. Describe the quantitative independent variable that you are using in your project. Identify the units that it will be measured in. (2 points) The quantitative independent variable is Mileage that is measured in miles. It has 75 observations for 3 different models of automobiles. But since we will be dropping model 2, we will end up with only 50 observations and 2 models. 3. Describe the qualitative independent variable that you are using in your project. Identify how the 0’s and 1’s are defined. (2 points) The qualitative independent variable is Model that has 3 categories, model 1, 2 and 3. It also has 75 observations for 3 different models of automobiles. But since we will be dropping model 2(since it has the middle mean), we will end up with only 50 observations and 2 models. Also the variable will be recoded ...
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Tags: Dependent Variable variable prices dropping model quantitative independent models of automobiles