contestada

Use the following to answer problems 10-11
A linear model to predict price of a particular car from its mileage was calculated from a sample
of 38 cars during the week of January 2011 (using Kelly Blue Book).

Use the following to answer problems 1011 A linear model to predict price of a particular car from its mileage was calculated from a sample of 38 cars during th class=

Respuesta :

MrRoyal

A linear regression is represented as: [tex]^\wedge y = a + bx[/tex] Where: [tex]b \to slope[/tex].

  • The interpretation of the slope is: For every 1 mile increase in car mileage, there is a $0.0534 decrease in the car price.
  • The correlation coefficient is [tex]0.9182[/tex]

(a) Interpret the slope

The linear model is given as:

[tex]^\wedge y = 24356.15 - 0.0534x[/tex]

Recall that:

[tex]b \to slope[/tex]

By comparison:

[tex]b = -0.0534[/tex]

From the question, we understand that:

[tex]x \to mileage[/tex]

[tex]y \to price[/tex]

So, the interpretation of the slope is:

For every 1 mile increase in car mileage, there is a $0.0534 decrease in the car price

(b) The correlation coefficient (r)

We have:

[tex]r^2 = 84.3\%[/tex]

Take square roots of both sides

[tex]r = \sqrt{84.3\%[/tex]

[tex]r = 0.9182[/tex]

Hence, the correlation coefficient is [tex]0.9182[/tex]

Read more about linear regressions at:

https://brainly.com/question/18405415

Otras preguntas