A statistical program is recommended. Car manufacturers produced a variety of classic cars that continue to increase in value. Suppose the following data is based upon the Martin Rating System for Collectible Cars, and shows the rarity rating (1-20) and the high price ($1,000) for 15 classic cars. Model Rating Price ($1,000) Price ($1,000) A ý B с D E F G H I J K L M N O 4000 3500 3000 2500 2000 1500 1000 500 0 19 12 19 19 16 18 17 17 18 13 14 18 17 15 16 16 2,625.0 4,025.0 1,325.0 (a) Develop a scatter diagram of the data using the rarity rating as the independent variable and price as the dependent variable. 4500 4500 14 350.0 350.0 450.0 165.0 1,575.0 95.0 37.0 1,000.0 400.0 77.5 100.0 275.0 16 Rating 18 20 4000 3500 3000 2500 2000 1500 1000 500 ● 0 12 14 16 Rating Does a simple linear regression model appear to be appropriate? Explain. O Yes, there appears to be a linear relationship between the two variables. O No, there appears to be a curvilinear relationship between the two variables. O No, there doesn't appear to be a relationship between the two variables. 18 20 4500 4000 3500 3000 2500 2000 1500 1000 500 0 12 14 16 Rating 18 20 4500 4000 3500 3000 2500 2000 1500 1000 500- 0 12 ● 14 16 Rating 18 20 (b) Develop an estimated regression equation for the data of the form ý = bo + b₂x + b₂x² with x = rarity rating and x² as the two independent variables. (Round bo and b, to the nearest integer and b₂ to one decimal place.)
A statistical program is recommended. Car manufacturers produced a variety of classic cars that continue to increase in value. Suppose the following data is based upon the Martin Rating System for Collectible Cars, and shows the rarity rating (1-20) and the high price ($1,000) for 15 classic cars. Model Rating Price ($1,000) Price ($1,000) A ý B с D E F G H I J K L M N O 4000 3500 3000 2500 2000 1500 1000 500 0 19 12 19 19 16 18 17 17 18 13 14 18 17 15 16 16 2,625.0 4,025.0 1,325.0 (a) Develop a scatter diagram of the data using the rarity rating as the independent variable and price as the dependent variable. 4500 4500 14 350.0 350.0 450.0 165.0 1,575.0 95.0 37.0 1,000.0 400.0 77.5 100.0 275.0 16 Rating 18 20 4000 3500 3000 2500 2000 1500 1000 500 ● 0 12 14 16 Rating Does a simple linear regression model appear to be appropriate? Explain. O Yes, there appears to be a linear relationship between the two variables. O No, there appears to be a curvilinear relationship between the two variables. O No, there doesn't appear to be a relationship between the two variables. 18 20 4500 4000 3500 3000 2500 2000 1500 1000 500 0 12 14 16 Rating 18 20 4500 4000 3500 3000 2500 2000 1500 1000 500- 0 12 ● 14 16 Rating 18 20 (b) Develop an estimated regression equation for the data of the form ý = bo + b₂x + b₂x² with x = rarity rating and x² as the two independent variables. (Round bo and b, to the nearest integer and b₂ to one decimal place.)
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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Transcribed Image Text:A statistical program is recommended.
Car manufacturers produced a variety of classic cars that continue to increase in value. Suppose the following data is based upon the Martin Rating System for Collectible Cars, and shows the rarity rating (1-20) and the high price
($1,000) for 15 classic cars.
Model Rating Price ($1,000)
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
4000
3500
3000
2500
2000
1500
1000
500
0
19
12
19
19
16
18
17
17
18
13
14
18
17
15
16
16
●
2,625.0
14
4,025.0
1,325.0
350.0
(a) Develop a scatter diagram of the data using the rarity rating as the independent variable and price as the dependent variable.
4500
4500
350.0
450.0
165.0
1,575.0
95.0
37.0
1,000.0
400.0
77.5
100.0
275.0
16
Rating
18
20
i
4000
3500
3000
2500
2000
1500
1000
500
0
12
14
16
Rating
Does a simple linear regression model appear to be appropriate? Explain.
Yes, there appears to be a linear relationship between the two variables.
O No, there appears to be a curvilinear relationship between the two variables.
O No, there doesn't appear to be a relationship between the two variables.
18
20
4500
4000
3500
3000
2500
2000
1500
1000
500
0
12
14
16
Rating
8
●
18
20
4500
4000
3500
3000
2500
2000
1500
1000
500
0
12
●
14
●
16
Rating
18
20
i
(b) Develop an estimated regression equation for the data of the form ý = bo + b₁x + b₂x² with x = rarity rating and x² as the two independent variables. (Round b, and b₁ to the nearest integer and b₂ to one decimal place.)
ŷ =
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