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Data were collected on the age (in years), mileage (in thousands of miles), and price (in thousands of dollars) of a random sample of used Hyundai Elantras. Output from two models are provided.
Single Predictor Model:
The regression equation is Price = 13.8 - 0.0912 Mileage
Two Predictor Model:
The regression equation is Price = 15.2 - 0.0101 Mileage - 1.55 Age
S = 1.39445 R-Sq = 89.0% R-Sq(adj) = 88.0%
Analysis of Variance
-Is the two predictor model effective according to the ANOVA test? Use 
= 0.05. Include all details of the test.
Correct Answer:
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(The model is ineffective and all predi...View Answer
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