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(e) For the model estimated in part (b), calculate the predicted price and residual for each automobile in the data. Identify the two automobiles that were the biggest bargains. If required, round your answer to the nearest whole number. The best bargain is the Camry # 12 The second best bargain is the Camry # predicted price. in the data set, which has 4 in the data set, which has 101 miles, and sells for $ 28 miles, and sells for $ 2.32 less than its predicted price. 2.21 less than its

(e) For the model estimated in part (b), calculate the predicted price and residual for each automobile in the data. Identify the two automobiles that were the biggest bargains. If required, round your answer to the nearest whole number. The best bargain is the Camry # 12 The second best bargain is the Camry # predicted price. in the data set, which has 4 in the data set, which has 101 miles, and sells for $ 28 miles, and sells for $ 2.32 less than its predicted price. 2.21 less than its

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 B Miles Price (1000s) ($1000s) 22 29 36 47 63 77 73 87 92 101 110 28 59 68 68 91 42 65 110 16.2 16.0 13.8 11.5 12.5 12.9 11.2 13.0 11.8 10.8 8.3 12.5 11.1 15.0 12.2 13.0 15.6 12.7 8.3
Transcribed Image Text:A B Miles Price (1000s) ($1000s) 22 29 36 47 63 77 73 87 92 101 110 28 59 68 68 91 42 65 110 16.2 16.0 13.8 11.5 12.5 12.9 11.2 13.0 11.8 10.8 8.3 12.5 11.1 15.0 12.2 13.0 15.6 12.7 8.3
What does the scatter chart indicate about the relationship between price and miles? The scatter chart indicates there may be a negative sell for a lower price, a negative relationship is expected between these two variables. This scatter chart is consistent with what is expected. (b) Develop an estimated regression equation showing how price is related to miles. What is the estimated regression model? Let x represent the miles. If required, round your answers to four decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) 16.47 -0.0587 + (c) Test whether each of the regression parameters Bo and B1 is equal to zero at a 0.01 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? The input in the box below will not be graded, but may be reviewed and considered by your instructor. HO: B1 = 0 and alternative hypothesis: H1 : B0 # 0 Which means car mileage in the regression model is a better (d) How much of the variation in the sample values of price does the model estimated in part (b) explain? If required, round your answer to two decimal places. 53.85 % (e) For the model estimated in part (b), calculate the predicted price and residual for each automobile in the data. Identify the two automobiles that were the biggest bargains. If required, round your answer to the nearest whole number. S The best bargain is the Camry # linear relationship between miles and price. Since a Camry with higher miles will generally The second best bargain is the Camry # predicted price. 12 in the data set, which has 4 in the data set, which has 101 miles, and sells for $ miles, and sells for $ 28 2.32 less than its predicted price. less than its 2.21
Transcribed Image Text:What does the scatter chart indicate about the relationship between price and miles? The scatter chart indicates there may be a negative sell for a lower price, a negative relationship is expected between these two variables. This scatter chart is consistent with what is expected. (b) Develop an estimated regression equation showing how price is related to miles. What is the estimated regression model? Let x represent the miles. If required, round your answers to four decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) 16.47 -0.0587 + (c) Test whether each of the regression parameters Bo and B1 is equal to zero at a 0.01 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? The input in the box below will not be graded, but may be reviewed and considered by your instructor. HO: B1 = 0 and alternative hypothesis: H1 : B0 # 0 Which means car mileage in the regression model is a better (d) How much of the variation in the sample values of price does the model estimated in part (b) explain? If required, round your answer to two decimal places. 53.85 % (e) For the model estimated in part (b), calculate the predicted price and residual for each automobile in the data. Identify the two automobiles that were the biggest bargains. If required, round your answer to the nearest whole number. S The best bargain is the Camry # linear relationship between miles and price. Since a Camry with higher miles will generally The second best bargain is the Camry # predicted price. 12 in the data set, which has 4 in the data set, which has 101 miles, and sells for $ miles, and sells for $ 28 2.32 less than its predicted price. less than its 2.21
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