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Find least squares regression line

Find least squares regression line

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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Find least squares regression line

 

Mileage, x Used selling price, y   xy
(in thousands) (in thousands of dollars)
23.9 30   717
24.4 27.6   673.44
38.9 21.9   851.91
37.5 22.9   858.75
34.8 25.7   894.36
20.7 30.8   637.56
27.2 30.7   835.04
23.1 31.2   720.72
20.9 32.2   672.98
23.3 33.7   785.21
23.8 28.4   675.92
15.3 34.1   521.73
28 25.8   722.4
28.2 29.9   843.18
29.4 27.3   802.62
25.8 27   696.6
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 of miles), 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. Also given are the products of the mileages and used selling prices for each of the sixteen Cadets. (These products, written in the column labelled "xy," may aid in calculations.) Mileage, x (in thousands) 23.9 24.4 38.9 37.5 34.8 20.7 27.2 23.1 20.9 23.3 23.8 15.3 28.0 28.2 Used selling price, (in thousands of dollars) 30.0 27.6 21.9 22.9 25.7 30.8 30.7 31.2 32.2 33.7 28.4 34.1 25.8 29.9 29.4 25.8 Send data to calculator 27.3 27.0 X xy 717 673.44 851.91 858.75 894.36 637.56 835.04 720.72 672.98 785.21 675.92 521.73 722.4 843.18 802.62 696.6 Send data to Excel What is the value of the slope of the least-squares regression line for these data? Round your answer to at 0 least two decimal places. X 40 5 35- 30- 25+ 20+ 445 Figure 1 20 Answer the following. Carry your intermediate computations to at least four decimal places, and round your answer as specified below. 25 35 40
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 of miles), 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. Also given are the products of the mileages and used selling prices for each of the sixteen Cadets. (These products, written in the column labelled "xy," may aid in calculations.) Mileage, x (in thousands) 23.9 24.4 38.9 37.5 34.8 20.7 27.2 23.1 20.9 23.3 23.8 15.3 28.0 28.2 Used selling price, (in thousands of dollars) 30.0 27.6 21.9 22.9 25.7 30.8 30.7 31.2 32.2 33.7 28.4 34.1 25.8 29.9 29.4 25.8 Send data to calculator 27.3 27.0 X xy 717 673.44 851.91 858.75 894.36 637.56 835.04 720.72 672.98 785.21 675.92 521.73 722.4 843.18 802.62 696.6 Send data to Excel What is the value of the slope of the least-squares regression line for these data? Round your answer to at 0 least two decimal places. X 40 5 35- 30- 25+ 20+ 445 Figure 1 20 Answer the following. Carry your intermediate computations to at least four decimal places, and round your answer as specified below. 25 35 40
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