Mathematics, 17.06.2021 01:20 kay9776
The data is given to an eager NWIC statistics student who calculates the following information:
Correlation Coefficient: r = -0.80
Trend Line: y = -0.1 * x + 18 where x = mileage and y = sale price
a. What is the slope of the trend line? Interpret this value in terms of mileage and sale price.
b. Is the relationship between mileage and sale price positive or negative? Why?
c. Suppose a car had 50,000 miles on the odometer. What is the prediction for the sale price? How confident would you be about this prediction? Why?
d. Suppose a car is taken in trade that has 95,000 miles on it. What is the predicted sale price? How confident would you be about this prediction? Why?
Answers: 1
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The data is given to an eager NWIC statistics student who calculates the following information:
Cor...
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