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EEE C ICK the icon to view the data table. plete parts a through g. d) If you want to sell an 8-year-old car of this model, what price seems appropriate? dollars (Round to the nearest dollar as needed.) e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. A. The car with a positive residual is better because its actual price is above the predicted price for its age. B. The car with a negative residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Data table D. The car with a positive residual is better because its actual price is below the predicted price for its age. 1) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Age (yr) Price Advertised ($) 17,588 2 14.969 O dollar(s) 3 15.959 (Round to the nearest dollar as needed.) 4 13,958 14,999 14,589 13,988 4 g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. 11,998 9,968 11,538 7 (1,1) More 8. 10,878 10,898 Statcrunch 12 10,019 lex ext MAR

EEE C ICK the icon to view the data table. plete parts a through g. d) If you want to sell an 8-year-old car of this model, what price seems appropriate? dollars (Round to the nearest dollar as needed.) e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. A. The car with a positive residual is better because its actual price is above the predicted price for its age. B. The car with a negative residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Data table D. The car with a positive residual is better because its actual price is below the predicted price for its age. 1) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Age (yr) Price Advertised ($) 17,588 2 14.969 O dollar(s) 3 15.959 (Round to the nearest dollar as needed.) 4 13,958 14,999 14,589 13,988 4 g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. 11,998 9,968 11,538 7 (1,1) More 8. 10,878 10,898 Statcrunch 12 10,019 lex ext MAR

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
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EEE C ICK the icon to view the data table. plete parts a through g. d) If you want to sell an 8-year-old car of this model, what price seems appropriate? dollars (Round to the nearest dollar as needed.) e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. A. The car with a positive residual is better because its actual price is above the predicted price for its age. B. The car with a negative residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Data table D. The car with a positive residual is better because its actual price is below the predicted price for its age. f) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Age (yr) Price Advertised ($) P 1 17,588 2 14.969 O dollar(s) 3 15,959 (Round to the nearest dollar as needed.) 4 13,958 4 14,999 14,589 13,988 g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. 5 11,998 9,968 11,538 7 Vi (1,1) More 7 8. 10,878 10,898 Statcrunch 12 10,019 lex MAR 6 MacBook Pro esc * %24 4 %23 % 2 3 5 7 8. Q W E R T. Y D F G K H.
Transcribed Image Text:EEE C ICK the icon to view the data table. plete parts a through g. d) If you want to sell an 8-year-old car of this model, what price seems appropriate? dollars (Round to the nearest dollar as needed.) e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. A. The car with a positive residual is better because its actual price is above the predicted price for its age. B. The car with a negative residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Data table D. The car with a positive residual is better because its actual price is below the predicted price for its age. f) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Age (yr) Price Advertised ($) P 1 17,588 2 14.969 O dollar(s) 3 15,959 (Round to the nearest dollar as needed.) 4 13,958 4 14,999 14,589 13,988 g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. 5 11,998 9,968 11,538 7 Vi (1,1) More 7 8. 10,878 10,898 Statcrunch 12 10,019 lex MAR 6 MacBook Pro esc * %24 4 %23 % 2 3 5 7 8. Q W E R T. Y D F G K H.
JUUOMpanying table to create a linear model for the relationship between a car's Age and its Price. Complete parts a through g. 03/06/22 8:17 PM E Click the icon to view the data table. O A. The car with a positive residual is better because its actual price is above the predicted price for its age, O B. The car with a negative residual is better because its actual price is below the predicted price for its age. C. The car with a negative residual is better because its actual price is above the predicted price for its age. O D. The car with a positive residual is better because its actual price is below the predicted price for its age. f) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Odollar(s) (Round to the nearest dollar as needed.) Data table g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. O A. No, because the predicted price is $0, which does not make sense. Age (yr) Price Advertised ($) D 1 17,588 O B. No, because the predicted price is too high to be reasonable. 2 14,969 15,959 13,958 14,999 14,589 13,988 11,998 9,968 11,538 10,878 10,898 10,019 OC. No, becadse the predicted price is negative, which does not make sense. 4 D. Yes, because the predicted price is positive and close to $o. 4 5 (1,0) More 8. Statcrunch 12 ext Print Done MAR 6. 2Aの 人 W MacBook Pro esc &. %23 24 8. 1 3 4 Q E R T Y F G K H. つ S4
Transcribed Image Text:JUUOMpanying table to create a linear model for the relationship between a car's Age and its Price. Complete parts a through g. 03/06/22 8:17 PM E Click the icon to view the data table. O A. The car with a positive residual is better because its actual price is above the predicted price for its age, O B. The car with a negative residual is better because its actual price is below the predicted price for its age. C. The car with a negative residual is better because its actual price is above the predicted price for its age. O D. The car with a positive residual is better because its actual price is below the predicted price for its age. f) You see a "For Sale" sign on a 12-year-old car of this model stating the asking price as $8,600. What is the residual? Odollar(s) (Round to the nearest dollar as needed.) Data table g) Would this regression model be useful in establishing a fair price for a 26-year-old car? Explain. O A. No, because the predicted price is $0, which does not make sense. Age (yr) Price Advertised ($) D 1 17,588 O B. No, because the predicted price is too high to be reasonable. 2 14,969 15,959 13,958 14,999 14,589 13,988 11,998 9,968 11,538 10,878 10,898 10,019 OC. No, becadse the predicted price is negative, which does not make sense. 4 D. Yes, because the predicted price is positive and close to $o. 4 5 (1,0) More 8. Statcrunch 12 ext Print Done MAR 6. 2Aの 人 W MacBook Pro esc &. %23 24 8. 1 3 4 Q E R T Y F G K H. つ S4
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