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a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.

a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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a. Find the equation of the least-squares line for the data. Rounds constants to the nearest

thousandth.

b. Use the equation from part a to predict the retail price of a 2010 Corvette with an

odometer reading of 30,000.

c. Find the linear correlation coefficient of these data.

1. Value of a Corvette: the following table gives retail values of a 2010 Corvette for various odometer readings. Odometer Reading Retail Value 13,000 18,000 20,000 $52,275 $51,525 $51,200 25,000 29,000 32,000 $50,275 $49,625 $49,075 a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.
Transcribed Image Text:1. Value of a Corvette: the following table gives retail values of a 2010 Corvette for various odometer readings. Odometer Reading Retail Value 13,000 18,000 20,000 $52,275 $51,525 $51,200 25,000 29,000 32,000 $50,275 $49,625 $49,075 a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.
1. Value of a Corvette: the following table gives retail values of a 2010 Corvette for various odometer readings. Odometer Reading Retail Value 13,000 18,000 20,000 $52,275 $51,525 $51,200 25,000 29,000 32,000 $50,275 $49,625 $49,075 a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.
Transcribed Image Text:1. Value of a Corvette: the following table gives retail values of a 2010 Corvette for various odometer readings. Odometer Reading Retail Value 13,000 18,000 20,000 $52,275 $51,525 $51,200 25,000 29,000 32,000 $50,275 $49,625 $49,075 a. Find the equation of the least-squares line for the data. Rounds constants to the nearest thousandth. b. Use the equation from part a to predict the retail price of a 2010 Corvette with an odometer reading of 30,000. c. Find the linear correlation coefficient of these data.
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