a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the output, then first enter the following command at the prompt: options(scipen=10). This will ensure that the output is not in scientific notation.] Pr ice = Age + Miles. b. Interpret the slope coefficient of Age. O The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car decreases by $359.04. O The slope coefficient of Age is –0.09, which suggests that for every additional year of age, the predicted price of car decreases by $0.09. O The slope coefficient of Age is –359.04, which suggests that for every additional year of age, the predicted price of car decreases by $359.04, holding number of miles constant. O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car decreases by $0.09, holding number of miles constant. c. Predict the selling price of a three-year-old sedan with 66,000 miles. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)
a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the output, then first enter the following command at the prompt: options(scipen=10). This will ensure that the output is not in scientific notation.] Pr ice = Age + Miles. b. Interpret the slope coefficient of Age. O The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car decreases by $359.04. O The slope coefficient of Age is –0.09, which suggests that for every additional year of age, the predicted price of car decreases by $0.09. O The slope coefficient of Age is –359.04, which suggests that for every additional year of age, the predicted price of car decreases by $359.04, holding number of miles constant. O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car decreases by $0.09, holding number of miles constant. c. Predict the selling price of a three-year-old sedan with 66,000 miles. (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.)
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
Transcribed Image Text:A
B
C
D
1 Selling Price
Age
Miles
2
13532
8
61456
3
13740
9
54394
4
22979
2
8260
5
15276
24897
6
16423
22148
7
16627
7
23696
8
16907
47447
9
18405
1
16812
10
18811
7
35377
11
19850
29664
12
11883
9
55844
13
14918
2
46207
14
15925
1
36984
15
16485
2
45531
16
9431
9.
86950
17
12947
8
77237
18
15742
8
59686
19
10538
8
93255
20
8913
48299
21
11954
42428
22
23
34
![The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans.
Selling Price
13,532
13,740
Age
Miles
8.
61,456
54,394
11,954
9
42,428
Click here for the Excel Data File
a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage.
(Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the
tput, then first enter the following command at the prompt: optic
scientific notation.]
ipen=D10). This will ensure that the output is not in
Pr ice
+
Age +
Miles.
b. Interpret the slope coefficient of Age.
The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car
decreases by $359.04.
O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car
decreases by $0.09.
The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car
decreases by $359.04, holding number of miles constant.
The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car
decreases by $0.09, holding number of miles constant.
c. Predict the selling price of a three-year-old sedan with 66,000 miles. (Round coefficient estimates to at least 4 decimal places and
final answer to 2 decimal places.)
Pr ice = $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb2cb6b53-8bc1-4971-ac49-59265633c58d%2F780b4172-2b18-4467-afd7-ea74af4fab6f%2Fveib9qb_processed.png&w=3840&q=75)
Transcribed Image Text:The accompanying table shows a portion of data consisting of the selling price, the age, and the mileage for 20 used sedans.
Selling Price
13,532
13,740
Age
Miles
8.
61,456
54,394
11,954
9
42,428
Click here for the Excel Data File
a. Determine the sample regression equation that enables us to predict the price of a sedan on the basis of its age and mileage.
(Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) [If you are using R to obtain the
tput, then first enter the following command at the prompt: optic
scientific notation.]
ipen=D10). This will ensure that the output is not in
Pr ice
+
Age +
Miles.
b. Interpret the slope coefficient of Age.
The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car
decreases by $359.04.
O The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car
decreases by $0.09.
The slope coefficient of Age is -359.04, which suggests that for every additional year of age, the predicted price of car
decreases by $359.04, holding number of miles constant.
The slope coefficient of Age is -0.09, which suggests that for every additional year of age, the predicted price of car
decreases by $0.09, holding number of miles constant.
c. Predict the selling price of a three-year-old sedan with 66,000 miles. (Round coefficient estimates to at least 4 decimal places and
final answer to 2 decimal places.)
Pr ice = $
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