Find & practically interpret the correlation coefficient (r)Find & practically interpret the coefficient of determination (R2)Find the equation of the least-squares line (i.e. fill in the numbers for y^=a+bxy^=a+bx), where y is price and x is mileageFind & practically interpret the slope (b)Find & interpret the y-intercept (a) if an interpretation is possible. If it’s not possible, just report the y-intercept and explain why it can not be interpreted practicallyUse your model to estimate the price of a car that has 100,000 miles. Is this prediction reasonable? Why or why not?Provide a brief conclusion or discussion of the results that includes one of the following: – 1 pointpotential problems or sources of biasare the results what you expected?are there other variables that may also be useful to predict the price of a car Options (1 of 2)Simple linear regression results:Dependent Variable: Sale PriceIndependent Variable: MileageSale Price = 50103.948 - 0.40458624 MileageSample size: 30R (correlation coefficient) = -0.51297305R-sq = 0.26314135Estimate of error standard deviation: 9953.8887Parameter estimates:Parameter EstimateStd. Err. Alternative DFT-StatP-valueIntercept50103.948 3680.1341#0 28 13.614707 <0.0001Slope-0.40458624 0.12794686#0 28 -3.1621427 0.0037Analysis of variance table for regression model:Source DFMSF-statP-valueModel1 9.9071446e8 9.9071446e8 9.9991466 0.0037Error28 2.7742372e999079901Total29 3.7649517e9 OptionsSale Price60000-50000-40000-30000-1000020000300004000050000600070000Mileage

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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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Find & practically interpret the correlation coefficient (r)

Find & practically interpret the coefficient of determination (R²)

Find the equation of the least-squares line (i.e. fill in the numbers for y^=a+bxy^=a+bx), where y is price and x is mileage

Find & practically interpret the slope (b)

Find & interpret the y-intercept (a) if an interpretation is possible. If it’s not possible, just report the y-intercept and explain why it can not be interpreted practically

Use your model to estimate the price of a car that has 100,000 miles. Is this prediction reasonable? Why or why not?

Provide a brief conclusion or discussion of the results that includes one of the following: – 1 point

- potential problems or sources of bias
- are the results what you expected?
- are there other variables that may also be useful to predict the price of a car