Week Five Quiz
Smart StudyThe owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. |
Car | Age (years) | Selling Price ($000) | Car | Age (years) | Selling Price ($000) |
1 | 9 | 8.1 | 7 | 8 | 7.6 |
2 | 7 | 6.0 | 8 | 11 | 8.0 |
3 | 11 | 3.6 | 9 | 10 | 8.0 |
4 | 12 | 4.0 | 10 | 12 | 6.0 |
5 | 8 | 5.0 | 11 | 6 | 8.6 |
6 | 7 | 10.0 | 12 | 6 | 8.0 |
Click here for the Excel Data File
a. | If we want to estimate selling price on the basis of the age of the car, which variable is the dependent variable and which is the independent variable? |
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| is the independent variable and is the dependent variable. |
b-1. | Determine the correlation coefficient. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) |
X | Y | ( )2 | ( )2 | ( )( ) | ||
9.0 | 8.1 | correlation between age of car and selling price. So, H0 . There is between beers consumed and BAC. |
The following sample observations were randomly selected. |
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X: | 5 | 3 | 6 | 3 | 4 | 4 | 6 | 8 |
Y: | 13 | 15 | 7 | 12 | 13 | 11 | 9 | 5 |
a. | Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) |
X | Y | ()2 | ()2 | ( )( ) | ||
5 | 13 | H0 and conclude the slope is zero. | ||||
The owner of Maumee Ford-Mercury-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at the dealership during the last year. |
Car | Age (years) | Selling Price ($000) | |||
1 |
| 9 |
| 8.1 |
|
2 |
| 7 |
| 6.0 |
|
3 |
| 11 |
| 3.6 |
|
4 |
| 12 |
| 4.0 |
|
5 |
| 8 |
| 5.0 |
|
6 |
| 7 |
| 10.0 |
|
7 |
| 8 |
| 7.6 |
|
8 |
| 11 |
| 8.0 |
|
9 |
| 10 |
| 8.0 |
|
10 |
| 12 |
| 6.0 |
|
11 |
| 6 |
| 8.6 |
|
12 |
| 6 |
| 8.0 |
|
Click here for the Excel Data File
a. | Determine the standard error of estimate. (Round your answer to 3 decimal places.) |
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Standard error of estimate | dependent, independent |
c. | What is the number 0.286 called? | ||||||||||||||||||||||||||
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Week Five Quiz*****Already A++ Rated Tutorial Use as Guide Paper***** NOT RATED Purchase the answer to view it
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