MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Based on the sample data and the regression line, complete the following.
(a) For these data, used selling prices that are less than the mean of the used selling prices tend to be paired with
mileages that are greater than ▼ the mean of the mileages.
(b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding
decrease of how many thousand dollars in the used selling price?
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Transcribed Image Text:Based on the sample data and the regression line, complete the following. (a) For these data, used selling prices that are less than the mean of the used selling prices tend to be paired with mileages that are greater than ▼ the mean of the mileages. (b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of
fifteen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in
thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used.
The least-squares regression line for these data has equation y = 40.86-0.45x. This line is shown in the scatter plot below.
Mileage, x
(in thousands)
29.7
27.8
26.8
24.2
21.1
23.0
24.3
15.4
37.7
23.6
34.4
27.8
23.5
20.9
259
Used selling price, y
(in thousands of dollars)
27.4
29.4
31.2
30.1
31.7
31.7
27.2
34.2
23.4
28.2
26.3
26.5
33.7
30.6
267
Used selling price
(in thousands of dollars)
40-
35+
30-
25-
20
THIS
15
X
20
X
X
X
30
Mileagex
(in thousands)
X
35
40
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Transcribed Image Text:The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of fifteen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. The least-squares regression line for these data has equation y = 40.86-0.45x. This line is shown in the scatter plot below. Mileage, x (in thousands) 29.7 27.8 26.8 24.2 21.1 23.0 24.3 15.4 37.7 23.6 34.4 27.8 23.5 20.9 259 Used selling price, y (in thousands of dollars) 27.4 29.4 31.2 30.1 31.7 31.7 27.2 34.2 23.4 28.2 26.3 26.5 33.7 30.6 267 Used selling price (in thousands of dollars) 40- 35+ 30- 25- 20 THIS 15 X 20 X X X 30 Mileagex (in thousands) X 35 40
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