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 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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, =y−41.990.51x . This line is shown in the scatter plot below. Based on the sample data and the regression line, complete the following. (a)For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are ▼(Choose one) the mean of the used selling prices. (b)According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding ▼(Choose one) of 0.51 thousand dollars in the used selling price. (c)From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 20.9 thousand miles? (Round your answer to at least one decimal place.)

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section: Chapter Questions

Problem 3CR

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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 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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, =y−41.990.51x

. This line is shown in the scatter plot below.

Based on the sample data and the regression line, complete the following.

(a)For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are ▼(Choose one) the mean of the used selling prices.

(b)According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding ▼(Choose one) of

0.51

thousand dollars in the used selling price.

(c)From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is

20.9

thousand miles? (Round your answer to at least one decimal place.)

(d)What was the observed used selling price (in thousands of dollars) when the mileage was

20.9

thousand miles?

line is shown in the scatter plot below.
Used selling
price, y
(in thousands) (in thousands
of dollars)
Mileage, x
25.5
26.6
29.6
27.8
40-
24.1
28.0
15.6
35.0
22.9
32.9
26.6
30.5
**
34.4
26.1
20.9
30.4
38.8
21.7
37.8
22.6
22.6
31.1
24.5
30.1
23.5
27.9
Mileage, x
27.6
30.3
(in thousands)
20.8
31.4
27.9
25.6
Used selling price, y
(in thous ands of dollars)

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