The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of sixteen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. The least-squares regression line for these data has equation Ŷ=42.80-0.53x. This line is shown in the scatter plot below.(The 2nd picture contains the rest of the data as it would not fit in the first pic and it includes the question as well.) Mileage, x(in thousands)24.123.529.124.139.227.727.723.326.034.615.737.920.8Used selling price, y(in thousands of dollars)28.128.728.030.821.425.430.733.926.426.134.022.532.0Used selling price(in thousands of dollars)40+30+25+20➡THISMileagexx 22.926.821.0Send data to calculatorSend data to Excel31.130.132.2Based on the sample data and the regression line, complete the following.(in thousands)(a) For these data, mileages that are greater than the mean of the mileages tend to be paired with used selling pricthat are (Choose one) the mean of the used selling prices.(b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is acorresponding decrease of how many thousand dollars in the used selling price?

The slope is -0.53 and it is negative.

Answered: (a) For these data, mileages that are…

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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The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of sixteen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. The least-squares regression line for these data has equation Ŷ=42.80-0.53x. This line is shown in the scatter plot below.

(The 2nd picture contains the rest of the data as it would not fit in the first pic and it includes the question as well.)