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The following statistical tasks should appear as appendices to your written answer. This should include all necessary steps and appropriate Excel, or equivalent, output.
These appendices should come after your written answer within your single word document for Part C.
In preparing your appendices you may use one of the following formats:
• Word with Excel output added.
• Handwritten with Excel output added. This will then need to be scanned and added to your word document.
Choose a level of significance for any hypothesis test and a level of confidence for any confidence interval. Enter these values on page 2 of the Part C cover sheets along with the sample number from Part A.
Use your sample and appropriate statistical inference and regression and correlation techniques to answer the following questions.
Question 1 Statistical Inference Topic 7 (10 marks)
Your relative or friend asks you if used car prices are generally higher for cars with automatic transmission than those with manual.
Use Price and Transmission data (where A = Automatic transmission, M = Manual transmission) for all cars in your sample and an appropriate statistical inference technique to answer the following question
On average is the price of cars, of the specified make and model for sale in the specified state, with automatic transmission higher than those with manual transmission?
Question 2 Simple Linear Regression model Topic 8 (7 marks)
Your friend or relative asks you how the value of the car that they decide to purchase will depreciate in value.
Use Age (independent variable) and Price (dependent variable) to model the relationship between age of a used car and its price.
Then to provide an answer on how how the value of the car that your friend or relative decides to purchase will depreciate in value explore this relationship by
1. Plotting the data with a scatter plot.
2. Calculating the least squares regression line, correlation coefficient and coefficient of determination.
Question 3 Multiple Linear Regression model Topic 9 (9 marks)
Your relative or friend now wants to know what other factors may have an influence on price.
To explore this add Kilometres and Transmission as additional independent variables to the regression model developed in Question 2. Then explore the relationship between these variables by
1. Calculating the multiple regression equation, multiple correlation coefficient, and coefficient of multiple determination
2. Using appropriate tests to determine which independent variables make a significant contribution to the regression model.
Hence, determine which independent variables to include in your model.
• You may need to transform or manipulate the given data, before using Excel for the corresponding statistical calculations.