Question: Consider a multiple regression model from the notes. The estimated mod

ID: 3043575 • Letter: Q

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Question: Consider a multiple regression model from the notes. The estimated model is listed below. predict...

Consider a multiple regression model from the notes. The estimated model is listed below.

predicted clock price ($) = 1338.951 + 12.741 x1 + 85.953 x2

Here x1 is the age the of the clock in years and x2 is the number of bidder for the clock.

The RMSE for this example is 133.48.

For every additional 5 bidders the predicted clock price will increase by ___________ assuming the age of the clock remains fixed.

here as estimated coefficient for number of bidder is 85.953

therefore For every additional 5 bidders the predicted clock price will increase by 5*85.953=429.765 assuming the age of the clock remains fixed.

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