Construct a 95 confidence interval for the coefficient of, Ask an Expert

Management Studies

A Moorooka car dealer wished to determine the relationship between the resale value in dollars of used cars (SALE), their age in years (AGE), the odometer reading in thousands of kilometres (DOM) and the number of cylinders (CYL). The following model was estimated from a sample of 64 used cars (the t statistics for the coefficients are in parentheses)

SALE = 225788 - 888.25AGE + 989.20CYL - 174.88DOM
(12.47) ( -7.76) (11.25) ( -2.44)

Construct a 95% confidence interval for the coefficient of AGE. Report the lower limit only correct to one decimal place.

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