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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8. Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in
value. The following data, based upon the Martin Rating System for Collectible Cars, show
the rarity rating (1–20) and the high price ($1000) for 15 classic cars.
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Transcribed Image Text:8. Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value. The following data, based upon the Martin Rating System for Collectible Cars, show the rarity rating (1–20) and the high price ($1000) for 15 classic cars.
Year
Make
Model
Rating
Price ($1000)
1984
Chevrolet
Corvette
18
1600.0
Corvette 265/225-hp
Corvette coupe (340-bhp 4-speed)
Corvette coupe Silver Anniversary
1956
Chevrolet
19
4000.0
Chevrolet
Chevrolet
1963
18
1000.0
1978
19
1300.0
Ferrari
1960–1963
1962–1964
1962
250 GTE 2+2
16
350.0
Ferrari
250 GTL Lusso
19
2650.0
DATA file
Ferrari
250 GTO
18
375.0
275 GTB/4 NART Spyder
365 GTB/4 Daytona
E-type OTS
E-type Series II OTS
E-type Series III OTS
XK 120 roadster (steel)
XK C-type
1967–1968
1968–1973
ClassicCars
Ferrari
17
450.0
Ferrari
17
140.0
1962–1967
1969–1971
77.5
Jaguar
Jaguar
Jaguar
Jaguar
Jaguar
Jaguar
15
14
62.0
1971–1974
16
125.0
1951–1954
17
400.0
1950–1953
16
250.0
1956–1957
XKSS
13
70.0
Develop a scatter diagram of the data using the rarity rating as the independent vari-
able and price as the independent variable. Does a simple linear regression model
appear to be appropriate?
b. Develop an estimated multiple regression equation with x = rarity rating and x as the
two independent variables.
Consider the nonlinear relationship shown by equation (16.7). Use logarithms to
develop an estimated regression equation for this model.
d. Do you prefer the estimated regression equation developed in part (b) or part (c)? Explain.
а.
с.
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Transcribed Image Text:Year Make Model Rating Price ($1000) 1984 Chevrolet Corvette 18 1600.0 Corvette 265/225-hp Corvette coupe (340-bhp 4-speed) Corvette coupe Silver Anniversary 1956 Chevrolet 19 4000.0 Chevrolet Chevrolet 1963 18 1000.0 1978 19 1300.0 Ferrari 1960–1963 1962–1964 1962 250 GTE 2+2 16 350.0 Ferrari 250 GTL Lusso 19 2650.0 DATA file Ferrari 250 GTO 18 375.0 275 GTB/4 NART Spyder 365 GTB/4 Daytona E-type OTS E-type Series II OTS E-type Series III OTS XK 120 roadster (steel) XK C-type 1967–1968 1968–1973 ClassicCars Ferrari 17 450.0 Ferrari 17 140.0 1962–1967 1969–1971 77.5 Jaguar Jaguar Jaguar Jaguar Jaguar Jaguar 15 14 62.0 1971–1974 16 125.0 1951–1954 17 400.0 1950–1953 16 250.0 1956–1957 XKSS 13 70.0 Develop a scatter diagram of the data using the rarity rating as the independent vari- able and price as the independent variable. Does a simple linear regression model appear to be appropriate? b. Develop an estimated multiple regression equation with x = rarity rating and x as the two independent variables. Consider the nonlinear relationship shown by equation (16.7). Use logarithms to develop an estimated regression equation for this model. d. Do you prefer the estimated regression equation developed in part (b) or part (c)? Explain. а. с.
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