Homework 2

Homework 2 - The asking prices(in pounds sterling are...

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The asking prices (in pounds sterling) are classified according to type/model of car, age of car (in six-month units based on date of registration), recorded mileage, and vendor. VARIABLE DESCRIPTIONS: 1. Case number 2. Asking price in pounds 3. Type/Model of car: 0=model 500, 1=450, 2=380, 3=280, 4=200 4. Age of car in six-month units, based on registration date 5. Recorded mileage (in thousands) 6. Vendor (0,1,2,3 are different dealerships, 4 means "sale by owner") forecast prices of a 2 years old Mercedes 500 with 60000 miles and being sold by owner and a 1 year old Mercedes 500 with 26000 miles and being sold by dealership or by owner. You should a) construct a linear regression of prices vs. available regressors (you can add any interaction terms); omit any non-important regressors if any and discuss your choice; report the summary output of the linear regression and discuss your findings, i.e. R-squared, F-statistic, significance of regressors;
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