6. Using Model F, what does the estimated log-log equation tell you about the relationship between mileage and price? Discuss both the estimated magnitude and the statistical significance of this relationship.

MODEL F: Call: 1m (formula = log (Price) Log_Mileage + Liter + Buick + Cadillac + Chevrolet + Pontiac + SAAB, data = dat) Coefficients: (Intercept) 2.977230 Estimate Std. Error t value Pr(>|t|) 0.068367 43.548 < 2e-16 *** Log_Mileage -0.090165 0.006709 -13.440 < 2e-16 *** Liter Buick Cadillac Chevrolet Pontiac SAAB 0.229019 0.004751 48.209 < 2e-16 *** 0.096883 0.021860 4.432 1.06e-05 *** 0.575186 0.023107 24.892 <2e-16 *** -0.020499 0.2399 0.017428 -1.176 0.034506 0.019277 0.795244 1.790 0.0738 0.019566 40.644 < 2e-16 *** Signif. codes: 0*** 0.001 *** 0.01 '*' 0.05 .' 0.1 Residual standard error: 0.1225 on 796 degrees of freedom Multiple R-squared: 0.9115. Adiusted R-squared: 0.9107