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Exercise

Modeling each auction type

You just saw that the opening bid price appeared not to affect the final sale price of Palm Pilots in the eBay auctions. Now let's look at what happens when you model the three auction types (3 day, 5 day, and 7 day) separately.

auctions is available; dplyr and ggplot2 are loaded.

Instructions 1/3

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  • Fit a linear regression model of price versus openbid and auction_type, with an interaction, using the auctions dataset. Look at the coefficients.