An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. 3 5 8 Price 36 48 41 60 79 53 37 46 Age 8 5 7 7 Find the least squares regression line equation in the form ŷ = a + bx. Use "Age" as the independent variable and "Price" as the dependent variable. Round your answers to four decimal places. +( i
An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. 3 5 8 Price 36 48 41 60 79 53 37 46 Age 8 5 7 7 Find the least squares regression line equation in the form ŷ = a + bx. Use "Age" as the independent variable and "Price" as the dependent variable. Round your answers to four decimal places. +( i
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research
department at the company took a sample of eight cars of this model and collected the following information on the ages (in years)
and prices (in hundreds of dollars) of these cars.
Age
8
5
7
5
3
8
7
Price
36 48 41
60 79 53 37 46
Find the least squares regression line equation in the form y
= a + bx. Use "Age" as the independent variable and "Price" as
the dependent variable.
Round your answers to four decimal places.
i
+(
i
Predict the price of a 2 year-old car of this model.
Round your answer to one decimal place.
i
pred =
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