Using the information from previous question, choose the best alternative the an

Question

Using the information from previous question, choose the best alternative the answer the questions: I. The log equation implies that price changes more rapidly among newer used cars, then slows as cars age. II. The logarithmic regression has a larger R2 and a smaller SE of the regression line. The log equation is a better fit because implies less unexplained variation. III. The log equation implies that price changes more rapidly among older used cars, and remains nearly static among newer used cars. IV. Except for the log transformation, none of the transformations were able to reduce the standard error of the regression line. All are FALSE Only III is FALSE I, and III are TRUE I, II, and IV are TRUE

Explanation / Answer

Answer is I,II and IV are true. These four alternative are best.

Using log equation we can get better fit.

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