Question 8
Milo’s Motors (MM) is a motorcycle brand that manufactures electric two wheelers. MM wants to understand the relationship between “Mileage”, “Storage space” and “Charging Time in Minutes” on “Sales volume”. The owner of the company, Dr. Milo, only has half-baked knowledge of regression. Hence, several regression models (Model-1, Model-2, Model-3, Model-4, Model-5, Model-6, Model-7, Model-8, Model-9 and Model-10) which are given below were built on appropriate available data by Dr. Milo.Given this information, answer the subquestions.
ANOVA
| df | SS | MS | F | Significance F | |
|---|---|---|---|---|---|
| Regression | 1 | 334383.3 | |||
| Residual | 17 | ||||
| Total | 10412551 |
Model-1: Partial ANOVA output when regressing “Sales volume” and “Mileage”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 47.20077094 | 4.584182553 |
| Storage Space | 0.781643656 | 0.114164154 |
Model-2: Partial output when regressing “Mileage” and “Storage Space”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 65.81368372 | 7.033106906 |
| Charging Time in minutes | -0.215893138 | 0.049858351 |
Model-3: Partial output when regressing “Storage Space” and “Charging Time in minutes”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 308.0125132 | 53.87791105 |
| Mileage | -2.304781359 | 0.69468086 |
Model-4: Partial output when regressing “Charging Time in minutes” and “Mileage”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 98.87754599 | 7.250193359 |
| Charging Time in minutes | -0.170523674 | 0.051397297 |
Model-5: Partial output when regressing “Mileage” and “Charging Time in minutes”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | -34.38432441 | 10.63536513 |
| Mileage | 0.938871236 | 0.137128267 |
Model-6: Partial output when regressing “Storage Space” and “Mileage”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 222.6523985 | 22.52775312 |
| Storage Space | -2.429330848 | 0.56102955 |
Model-7: Partial output when regressing “Charging time in minutes” and “Storage Space”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 5353.222047 | 455.4019129 |
| Storage Space | -17.4798574 | 11.34129661 |
Model-8: Partial output when regressing “Sales” and “Storage Space”
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | 2990.697485 | 250.4961952 |
| Charging Time in Minutes | 12.95643851 | 1.775790898 |
Model-9: Partial output when regressing “Sales” and “Charging Time in minutes”
ANOVA
| df | SS | MS | F | |
|---|---|---|---|---|
| Regression | 10266630.47 | |||
| Residual | 9728.032 | |||
| Total | 18 |
| Coefficients | Standard Error | |
|---|---|---|
| Intercept | -222.5640769 | 222.6565966 |
| Mileage | 26.571306 | 3.242212111 |
| Storage space | 8.90325534 | 3.342287418 |
| Charging time in minutes | 19.40962696 | 0.659759192 |
Model-10: Partial output when regression “Sales” with all the three explanatory variables
What is the value of the “T-statistic” associated with the intercept in Model-3?
(Note: Enter the answer rounded to two decimal places. For example, if the answer is “1.234”, then enter it as “1.23”)