State the linear regression equation, Engineering Mathematics

Assignment Help:

An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars.

Age (x)

8

3

6

9

2

5

6

3

Price (y)

16

74

40

19

124

36

33

89

a) Set up a scatter diagram for age and price.

b) At the 0.05 level of significance, determine whether there is a significant linear relationship between age and price.

c) State the linear regression equation.

d) Predict the average price obtained when the age of the car is 7 years old.

e) Determine the coefficient of determination, r2, and interpret its meaning.

f) How useful do you think this regression model is for predicting price?


Related Discussions:- State the linear regression equation

Multiple inyegral, Ask question #how to identify region of the integral sum...

Ask question #how to identify region of the integral sum#

Pawel, how much for small assigment question ? differentation ?

how much for small assigment question ? differentation ?

Vector, prove that A=3i+j-2k, B=-i+3j+4k ,C=4i-2j-6k and find the length of...

prove that A=3i+j-2k, B=-i+3j+4k ,C=4i-2j-6k and find the length of the triangle

Explain how conduction takes place in semiconductors, With the help of ener...

With the help of energy bands explain how conduction takes place in semiconductors. Semiconductors: Substances as carbon, germanium and silicon that electrical conductivity l

Six years time, A young couple requires RM30000 for an overseas trip which ...

A young couple requires RM30000 for an overseas trip which they want to make in six years time. How much they have to invest now at 18% p.a. compound interest compounded monthly, t

Polynomial approximation, how to program lagrange polynomial approximation ...

how to program lagrange polynomial approximation with MATLAB

Accurately measure the fluid level, You are working as an engineer on a pro...

You are working as an engineer on a project that involved being able to accurately measure the fluid level change in a large outdoor holding tank. The fluid level rises and falls a

Calculus, Ask questioA mass on a spring vibrates. Its position at time t fr...

Ask questioA mass on a spring vibrates. Its position at time t from its starting point is x(t) = 2 cos(t) e t Find the velocity and acceleration at time t. What is the behavior of

Fast fourier transform, From this point on it is assumed that any problem a...

From this point on it is assumed that any problem amenable to solution with the aid of the Discrete Fourier Transform (or DFT) will in fact be treated computationally with a fast r

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd