A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86 The correlation coefficient was -0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.
A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86 The correlation coefficient was -0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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![A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to
estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86x.
The correlation coefficient was –0.99. Would it be accurate to use this equation to predict the value of the car after 10
years?
No, because that would be extrapolation.
No, because the value of cars is unpredictable over time.
Yes, because the correlation is very strong.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1728a8c1-40d6-4aa5-bbbf-85e16857be8d%2F7650c9e4-0bf3-461a-9815-e8a7088908b2%2Frioyyw_processed.png&w=3840&q=75)
Transcribed Image Text:A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to
estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86x.
The correlation coefficient was –0.99. Would it be accurate to use this equation to predict the value of the car after 10
years?
No, because that would be extrapolation.
No, because the value of cars is unpredictable over time.
Yes, because the correlation is very strong.
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