The spreadsheet is the summary of actual financial transactions from a
Wisconsin car dealership for 30 of their automobiles. The spreadsheet
columns are as follows:
Column A is the total financing of the purchase.
Column B is the total finance charges that the customer pays.
Column C is the interest rate that the customer is charged.
Column D is the monthly payment that the customer will pay.
The Y intercept is the Automobile Financed Amount column reflects
the price of the car, tax and added fees. The state tax is 5%, many
counties within the state also add .5% tax, and some counties like
Milwaukee add a 1% tax for the stadium. This will sum to 6.5% depending
on the county. The other fees may include a processing fee of $17.50 to
obtain a title over the internet verses hand written paper work and sent
via mail. The license fee if not transferring plates may plates may
range from $45.00 to $77.50 for a larger truck. There may also be
expenses for extended warranties or added insurance charges. The
financed amount also does not reflect what if any down-payment occurred.
The Financed Charge X№ is the total interest paid on the loan
amount. The Contract Interest Rate XІ is based on many factors along
with the going interest rate and the credit rating of the customer. The
last column is the Monthly Payment Xі the amount the customer will be
paying during the course of the loan per month.
The regression summary is as follows:
Y=6843.838479 + 1.9762423 X№ + -74598.85471 XІ + 25.76562879 Xі
The dealership follows each automobile and the amount financed. This
detail is reported to the financial institutions that the transactions
have occurred. If more variables were permitted in this analysis, it
would include such variables as term (in months), buy rate from the
financial institution, profit that dealership makes, name of
buyer/salesperson, date of transaction, automobile description, new or
used, and stock number. The spreadsheet only represents deals that were
financed. Cash transactions are not shown.
Statistics Homework Solutions
#5188
Regression Analysis
Please review my project that I need to present to class I see that I would Reject Ho on all variables. I would like to state something significant about my work, professor gave 30 data lines no more than 4 variables as a project but did not discuss the Regression portion that much. I would like further detail to put in my attached narrative he did ask that we do the 0 Constant but my NA results did not do much. When I went to the dealership independent variables were difficult to find. The professor did approve the project--but was looking for that--I thought perhaps I could state at the end of the paper what other variables I could have had--he restricted us to a total of 4 if you look at the columns to the extreme right I had those as sample of what else I could of used as data- but again they are not independent and were not included in my regression I will be deleting those--Please Express what thoughts you have for independent variables I was thinking age, gender, weather as a few--Please review the regression and narrative open to any ideas Perhaps discuss my P-value not sure also the password to access the spreadsheet is 242424. I would like to know what this data really gave me statiscally and what benefit it could be?
What is this?
By OTA - Overall OTA Rating
Jiong Tu, PhD (IP) - 4.8/5
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Included in Download
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- Attached file(s):
- Regression with SPSS.doc
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