1. You are interested in buying a new Jeep Cherokee. The following data are based on information taken from Consumer Guide (Vol. 608, no. 6). Let x be the list price (in thousands of dollars) for a random selection of Jeep Cherokee vehicles of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle. 15.3 16.4 19.5 21.9 18.8 23.4 Y 14.9 15.8 17.0 18.1 17.1 19.8 Use your calculator. Find the linear regression equation (a is rounded to tenth place and b is rounded to ten-thousandth place). Find the correlation coefficient rounded to ten- thousandth place. Find the coefficient of determination rounded to tenth percent. Equation I Correlation coefficient Coefficient of determination
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
![1. You are interested in buying a new Jeep Cherokee. The following data are based on
information taken from Consumer Guide (Vol. 608, no. 6). Let x be the list price (in
thousands of dollars) for a random selection of Jeep Cherokee vehicles of different models
and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle.
15.3
16.4
19.5
21.9
18.8
23.4
Y
14.9
15.8
17.0
18.1
17.1
19.8
Use your calculator. Find the linear regression equation (a is rounded to tenth place and b
is rounded to ten-thousandth place). Find the correlation coefficient rounded to ten-
thousandth place. Find the coefficient of determination rounded to tenth percent.
Equation
I.
Correlation
coefficient
Coefficient of
determination](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F377a7caf-b074-415b-a7a2-489899521086%2F95183ff6-5e87-4584-9ee1-0351adc564c8%2F2f4rv2d_processed.jpeg&w=3840&q=75)
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