Chris Smith is a sports car enthusiast with a particular love for Mini Coopers. He downloaded data from eBay on completed auctions of Mini Coopers and used it to create the data set in the file MiniCooper.xlsx showing the selling prices, age, mileage, and location of Mini Cooper automobiles. He would like to use this data to build a regression model to predict the estimated selling price of Mini Coopers. a. Prepare scatter plots showing the relationship between selling price and each of the independent variables. What sort of relationship does each plot suggest? The input in the box below will not be graded, but may be reviewed and considered by your instructor. b. Using only the variables in this data set, what regression model has the highest R2 value? Age Mileage West South Northeast Mid-Atlantic Southwest What is the model and what is its R2 value? Round your answer to one decimal place. % c. Using only the variables in this data set, what regression model has the highest adjusted-R2 value? Age Mileage West South Northeast Mid-Atlantic Southwest What is the model and what is its adjusted-R2 value? Round your answer to one decimal place. % d. Which of the cars in this data set appear to be the best bargains relative to their estimated prices using the model identified in part c? e. What other variables, if available, might help Chris to build a more accurate regression model for this problem? The input in the box below will not be graded, but may be reviewed and considered by your instructor.



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