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Compute the correlation between price and mileage.  (Round answers to 4 decimal points) Correlation:   b. Which of the following is NOT an assumption made on the standard regression assumptions?  Which of the following is true about the regression line multiple choice 2 The regression line minimizes the MSE of forecast errors. The regression line is the line with the largest prediction accuracy. The regression line minimizes the sum of the squares of the residuals. Regression may only be performed if the standard regression assumptions hold. All of the above.   multiple choice 1 They all follow a binomial distribution They are all independent of each other They all have the same standard deviation They all have mean (expected value) 0

Compute the correlation between price and mileage.  (Round answers to 4 decimal points) Correlation:   b. Which of the following is NOT an assumption made on the standard regression assumptions?  Which of the following is true about the regression line multiple choice 2 The regression line minimizes the MSE of forecast errors. The regression line is the line with the largest prediction accuracy. The regression line minimizes the sum of the squares of the residuals. Regression may only be performed if the standard regression assumptions hold. All of the above.   multiple choice 1 They all follow a binomial distribution They are all independent of each other They all have the same standard deviation They all have mean (expected value) 0

MATLAB: An Introduction with Applications
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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a. Compute the correlation between price and mileage.  (Round answers to 4 decimal points)

Correlation:

 

b. Which of the following is NOT an assumption made on the standard regression assumptions?

 Which of the following is true about the regression line

multiple choice 2

  • The regression line minimizes the MSE of forecast errors.
  • The regression line is the line with the largest prediction accuracy.
  • The regression line minimizes the sum of the squares of the residuals.
  • Regression may only be performed if the standard regression assumptions hold.
  • All of the above.
     
    multiple choice 1
  • They all follow a binomial distribution
  • They are all independent of each other
  • They all have the same standard deviation
  • They all have mean (expected value) 0

 

Mileage and Pl I believe that cars with more mileage are worth less money. I decide to run a statistical analysis at the a = 0.01 significance level to test my claim. From a large website specializing in selling used cars, I sample 6 used 2012 sedans at random. For each sedan, I record its mileage and the price that the car is listed at. Data are as follows: Mileage 72430 76450 72830 145200 76050 95560 Price 15190 10430 11480 4880 14120 7990 Assume that responses follow the model Price = Bo + B₁(Mileage) + Where the error terms & satisfy the standard regression assumptions.
Transcribed Image Text:Mileage and Pl I believe that cars with more mileage are worth less money. I decide to run a statistical analysis at the a = 0.01 significance level to test my claim. From a large website specializing in selling used cars, I sample 6 used 2012 sedans at random. For each sedan, I record its mileage and the price that the car is listed at. Data are as follows: Mileage 72430 76450 72830 145200 76050 95560 Price 15190 10430 11480 4880 14120 7990 Assume that responses follow the model Price = Bo + B₁(Mileage) + Where the error terms & satisfy the standard regression assumptions.
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