An antique collector believes that the price received for a particular item increases with its age and with the number of bidders. The attached file contains data on these three variables for 32 recently auctioned comparable items. Estimate a multiple regression model using the given data. Interpret each of the estimated regression coefficients. Is the antique collector correct in believing that the price received for the item increases with its age and with the number of bidders? Interpret the standard error of estimate and the R-square value for these data.© BrainMass Inc. brainmass.com June 3, 2020, 7:01 pm ad1c9bdddf
I have done the multiple regression using Excel. This can be accessed thru Tools -> Data Analysis -> Multiple Regression.
There is a Help page in Excel regarding this ...
The solution provides detailed explanations and instructions, including an Excel file.