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The owner of Maumee Motors 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 Maumee Motors during the last year: Car Age (years) ($ thousands) 4 Selling Price $3.1 Selling Price Car Age (years) ($ thousands) 4 $3.6 22544 123456 TITT 4.2 6.0 9.4 4.6 4.9 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) r = b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the selling price is

The owner of Maumee Motors 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 Maumee Motors during the last year: Car Age (years) ($ thousands) 4 Selling Price $3.1 Selling Price Car Age (years) ($ thousands) 4 $3.6 22544 123456 TITT 4.2 6.0 9.4 4.6 4.9 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) r = b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the selling price is

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The owner of Maumee Motors 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 Maumee Motors during the last year: Car Age (years) ($ thousands) 4 Selling Price $3.1 Selling Price Car Age (years) ($ thousands) 4 $3.6 22544 123456 TITT 4.2 6.0 9.4 4.6 4.9 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) r = b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the selling price is
Transcribed Image Text:The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year: Car Age (years) ($ thousands) 4 Selling Price $3.1 Selling Price Car Age (years) ($ thousands) 4 $3.6 22544 123456 TITT 4.2 6.0 9.4 4.6 4.9 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) r = b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the selling price is
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