2. Data collected from Kelly Blue Book: Year of manufacture 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Trade in value 18,512 17,90S 14,407 12,512 12,056 10,875 9,196 8,708 7,258 6,713 Data adjusted for creating a linear regression model of the car's depreciation: Let x represent the age of the car in years and y represent the trade in value in dollars 3. x (age of the 3 car in years) y (trade value 18,512 17,90S 14,407 12,512 12,056 10,875 9,196 8,708 7,258 6,713 in dollars) 4. Use your regression model to determine the predicted resale value of your car 5 years after its purchase (when the car is 5 years old) 5. Do you expect all cars (different make and models) to depreciate in the same way (to have the same linear regression model)? Explain your answer. 6. Most banks and credit unions provide car loans ranging from 24 to 72 months (2 to 7 years), while the most common mortgages range from 10 to 30 years. Use your regression model to explain why it would not make sense to offer a car loan ranging up to 30 years.
2. Data collected from Kelly Blue Book: Year of manufacture 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 Trade in value 18,512 17,90S 14,407 12,512 12,056 10,875 9,196 8,708 7,258 6,713 Data adjusted for creating a linear regression model of the car's depreciation: Let x represent the age of the car in years and y represent the trade in value in dollars 3. x (age of the 3 car in years) y (trade value 18,512 17,90S 14,407 12,512 12,056 10,875 9,196 8,708 7,258 6,713 in dollars) 4. Use your regression model to determine the predicted resale value of your car 5 years after its purchase (when the car is 5 years old) 5. Do you expect all cars (different make and models) to depreciate in the same way (to have the same linear regression model)? Explain your answer. 6. Most banks and credit unions provide car loans ranging from 24 to 72 months (2 to 7 years), while the most common mortgages range from 10 to 30 years. Use your regression model to explain why it would not make sense to offer a car loan ranging up to 30 years.
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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Question
Using the data in the first image can you give me answers to questions in 2nd image(4,5,6).Can you plz atleast explain how to do 5&6 (6 is the main one) plz help......
Transcribed Image Text:2.
Data collected from Kelly Blue Book:
Year of
manufacture 2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
Trade in
value
18,512 17,90S 14,407 12,512 12,056 10,875 9,196
8,708 7,258 6,713
Data adjusted for creating a linear regression model of the car's depreciation:
Let x represent the age of the car in years and y represent the trade in value in dollars
3.
x (age
of the
3
car in
years)
y
(trade
value
18,512 17,90S 14,407 12,512 12,056 10,875 9,196
8,708
7,258
6,713
in
dollars)
Transcribed Image Text:4. Use your regression model to determine the predicted resale value of your car 5 years
after its purchase (when the car is 5 years old)
5. Do you expect all cars (different make and models) to depreciate in the same way (to
have the same linear regression model)? Explain your answer.
6. Most banks and credit unions provide car loans ranging from 24 to 72 months (2 to 7
years), while the most common mortgages range from 10 to 30 years. Use your
regression model to explain why it would not make sense to offer a car loan ranging up to
30 years.
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