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

Matlab, i have a wav file which consists of a number of hammer impact noise...

i have a wav file which consists of a number of hammer impact noises. i want to break up each impact into and individual wav file. i want to ignore the first 40ms of the impact and

Trigonometric functions, definition of trigonometric function #Minimum 100...

definition of trigonometric function #Minimum 100 words accepted#

Income tax return, Below are items that affected the 2011 accounting record...

Below are items that affected the 2011 accounting records for Darwin Adaptions Inc. The annual accounting period ended December 31, 2011. No adjusting entries were made during the

Bad Illustration, There is an illustration of a diesel engine sixteen cylin...

There is an illustration of a diesel engine sixteen cylinder that is supposed to be four-cycle, however GM never made engines of that size that were not two-cycle. The four valves

Vector, for what values of (a,b) does the point P (0,a,b) lie on the line t...

for what values of (a,b) does the point P (0,a,b) lie on the line through Q (1,-1,4) and R (2,3,5)?

Two distinct case, A) Prove the following theorem by considering two distin...

A) Prove the following theorem by considering two distinct cases. For any integer n, n 2 + n is even. B)  If x = r 2  - s 2 and y = 2rs for any integers r and s, then x 2 +

Compounded monthly , Verify how long $400 must be left to store at 12 % p.a...

Verify how long $400 must be left to store at 12 % p.a. compounded monthly for it to amount to triple the soted value of another $400 deposited at the similar time at 8.8% p.a. com

Numerical integration, There are many situations which call for the replace...

There are many situations which call for the replacement of an integral by a sum, or vice versa. In the former case the highest accuracy is sometimes required. This means that in t

MUPAD, I have some work in Mupad i need doing. Its on Diff equations. Canb ...

I have some work in Mupad i need doing. Its on Diff equations. Canb you guys help?

Modelling equations, model an equation to determine the amount of oil in a...

model an equation to determine the amount of oil in a reservior

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