Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of een Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x chousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. se data are shown graphically in the scatter plot in Figure 1. Used selling price, y (in thousands of dollars) Mileage, x (in thousands) 27.7 26.2 34.5 25.6 23.5 28.7 26.9 30.8 39.1 22.0 37.4 23.5 23.0 33.4 24.1 28.1 24.0 29.7 25.9 26.1 29.1 27.2 Used selling price (in thous ands of dollars)
Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of een Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x chousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. se data are shown graphically in the scatter plot in Figure 1. Used selling price, y (in thousands of dollars) Mileage, x (in thousands) 27.7 26.2 34.5 25.6 23.5 28.7 26.9 30.8 39.1 22.0 37.4 23.5 23.0 33.4 24.1 28.1 24.0 29.7 25.9 26.1 29.1 27.2 Used selling price (in thous ands of dollars)
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question

Transcribed Image Text:The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of
sixteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x
(in thousands), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used.
These data are shown graphically in the scatter plot in Figure 1.
Used selling
price, y
(in thousands) (in thousands
of dollars)
Mileage, x
27.7
26.2
34.5
25.6
23.5
28.7
40+
26.9
30.8
39.1
22.0
35-
37.4
23.5
30-
23.0
33.4
24.1
28.1
25
24.0
29.7
20-
25.9
26.1
29.1
27.2
25
Used selling price
(in thousands of dollars)
XX

Transcribed Image Text:15.4
35.2
21.0
31.6
Send data to calculator
Send data to Excel
The least-squares regression line for these data has a slope of approximately -0.5.
Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below. (If necessary, consult a
list of formulas.)
(a) What is the value of the y-intercept of the least-squares regression line for these data?
Round your answer to at least two decimal places.
(b) What is the value of the sample correlation coefficient for these data?
Round your answer to at least three decimal places.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images

Recommended textbooks for you

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc

Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning

Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON

The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman

Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman