Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale, whether or not it is listed as a Sub-Zero brand, the number of doors (one door or two doors),...


Refrigerator prices are affected by characteristics such as whether or not the refrigerator is on sale, whether or not it is listed as a Sub-Zero brand, the number of doors (one door or two doors), and the placement of the freezer compartment (top, side, or bottom). The table below shows the regression output from a regression model using the natural log of price as the dependent variable. The model was developed by the Bureau of Labor Statistics.




































































Variable

Coefficient

Standard Error

t Statistic

Intercept
5.40000.1341540.25

Sale price
−0.07590.0283−2.68

Sub-Zero brand
1.14710.14597.86

Total capacity (in cubic feet)
0.069290.0059511.64

Two-door, freezer on bottom
0.055670.072920.76

Two-door, side freezer
Base

Two-door, freezer on top
−0.33520.03537−9.48

One door with freezer
−0.61440.1362−4.51

One door, no freezer
−0.85730.1491−5.75


Find thep-value for each coefficient, using 315 degrees of freedom. Using anα = .10, which predictor variable(s) are not significant predictors?(Leave no cells blank - be certain to enter "0" wherever required. Round your answers to 4 decimal places.)




By how much does the natural log of refrigerator price decrease from atwo-door,side freezermodel to atwo-door,top freezer model? (Round your answer to 4 decimal places.)



Jun 03, 2022
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