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Finally, I estimated Model 4, which uses the natural log of the price, ln(Price), for the response variable: The regression equation is lnPrice =...
Finally, I estimated Model 4, which uses the natural log of the price, ln(Price), for the response variable:The regression equation islnPrice = 9.80 - 0.000008 Mileage + 0.105 Liter + 0.328 Cruise - 0.0550 Sound + 0.0531 Leather - 0.350 Cylinder_4 - 0.418 Cylinder_6Predictor Coef SE Coef T PConstant 9.7957 0.1617 60.60 0.000Mileage -0.00000760 0.00000120 -6.34 0.000Liter 0.10499 0.03140 3.34 0.001Cruise 0.32772 0.02478 13.23 0.000Sound -0.05502 0.02172 -2.53 0.012Leather 0.05306 0.02341 2.27 0.024Cylinder_4 -0.34984 0.09961 -3.51 0.000Cylinder_6 -0.41772 0.05714 -7.31 0.000S = 0.277882 R-Sq = 54.5% R-Sq(adj) = 54.1%
What is the predicted ln(Price) for a car that has 8000 miles, 2 liters, no cruise, no sound, no leather, and 8 cylinders? Use four decimal places.