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1. The table below shows the random sampling of ten, from the historic data on the age of an automobile and price it was sold by an automobile dealer. X is the age in years and Y is the price in thousands of dollars. X Y 2 3 28.7 24.8 3 3 26.0 30.5 4 4 5 5 5 23.8 24.6 23.8 20.8 21.6 22.1 a. Construct the scattered diagram. b. With the use of a table, compute the equation of least squares line in the form y = ao +aix. (ao and aj are taken to two decimal places). c. Plot the least square line on the scattered diagram. d. Compute the errors in fitting data with the least squares. e. Using your regression model, predict the price of Twenty years old automobile. Three years old automobile. i) ii) iii) iv) Five months old automobile. f. In one sentence, how can you describe the relationship between age and price of an automobile? Four years three months old automobile.

1. The table below shows the random sampling of ten, from the historic data on the age of an automobile and price it was sold by an automobile dealer. X is the age in years and Y is the price in thousands of dollars. X Y 2 3 28.7 24.8 3 3 26.0 30.5 4 4 5 5 5 23.8 24.6 23.8 20.8 21.6 22.1 a. Construct the scattered diagram. b. With the use of a table, compute the equation of least squares line in the form y = ao +aix. (ao and aj are taken to two decimal places). c. Plot the least square line on the scattered diagram. d. Compute the errors in fitting data with the least squares. e. Using your regression model, predict the price of Twenty years old automobile. Three years old automobile. i) ii) iii) iv) Five months old automobile. f. In one sentence, how can you describe the relationship between age and price of an automobile? Four years three months old automobile.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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1. The table below shows the random sampling of ten, from the historic data on the age of an automobile and price it was sold by an automobile dealer. X is the age in years and Y is the price in thousands of dollars. X Y 2 28.7 i) ii) iii) 3 3 3 24.8 26.0 30.5 4 23.8 4 5 5 24.6 23.8 20.8 5 21.6 a. Construct the scattered diagram. b. With the use of a table, compute the equation of least squares line in the form y = ao +ajx. (ao and aj are taken to two decimal places). c. Plot the least square line on the scattered diagram. d. Compute the errors in fitting data with the least squares. e. Using your regression model, predict the price of Twenty years old automobile. Three years old automobile. Four years three months old automobile. 6 22.1 iv) Five months old automobile. f. In one sentence, how can you describe the relationship between age and price of an automobile?
Transcribed Image Text:1. The table below shows the random sampling of ten, from the historic data on the age of an automobile and price it was sold by an automobile dealer. X is the age in years and Y is the price in thousands of dollars. X Y 2 28.7 i) ii) iii) 3 3 3 24.8 26.0 30.5 4 23.8 4 5 5 24.6 23.8 20.8 5 21.6 a. Construct the scattered diagram. b. With the use of a table, compute the equation of least squares line in the form y = ao +ajx. (ao and aj are taken to two decimal places). c. Plot the least square line on the scattered diagram. d. Compute the errors in fitting data with the least squares. e. Using your regression model, predict the price of Twenty years old automobile. Three years old automobile. Four years three months old automobile. 6 22.1 iv) Five months old automobile. f. In one sentence, how can you describe the relationship between age and price of an automobile?
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