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Suppose you are interested in buying a new Lincoln Navig with different options. The list price is on the vehicle. As a this model with its options. The following data are based be the dealer invoice (in thousands of dollars) for the give

Suppose you are interested in buying a new Lincoln Navig with different options. The list price is on the vehicle. As a this model with its options. The following data are based be the dealer invoice (in thousands of dollars) for the give

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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Suppose you are interested in buying a new Lincoln Navigator or Town Car. You are standing on the sales lot looking at a model with different options. The list price is on the vehicle. As a salesperson approaches, you wonder what the dealer invoice price is for this model with its options. The following data are based on a random selection of these cars of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle. X y 31.2 34.3 36.1 44.0 29.8 30.0 32.0 42.1 (a) Verify that Ex = 193.4, Ey = 176.1, Ex² = 7673.98, Ey2 = 6365.29, Exy = 6983.52, and r≈ 0.969. ΣΧ 193.4 2y 176.1 Σχ2 7673.98 Σy2 6365.29 Exy 6983.52 r 0.969 47.8 42.2 (c) Verify that Se≈ 1.8281, a≈ 0.8021, and b≈ 0.8898. Se 1.8281 a 0.8021 b 0.8898 (d) Find the predicted dealer invoice when the list price is x = 36 (thousand dollars). (Use 2 decimal places.) 32.83 (e) Find a 99% confidence interval for y when x = 36 (thousand dollars). (Use 2 decimal place.) lower limit 34.17 upper limit 37.82 X X (f) Use a 1% level of significance to test the claim that ß> 0. (Use 2 decimal places.) t 6.76 critical t 5.84 Conclusion O Reject the null hypothesis, there is sufficient evidence that ß > 0. Reject the null hypothesis, there is insufficient evidence that ß > 0. O Fail to reject the null hypothesis, there is insufficient evidence that ß > 0. Fail to reject the null hypothesis, there is sufficient evidence that ß > 0. (g) Find a 99% confidence interval for ß and interpret its meaning. (Use 3 decimal places.) lower limit upper limit Interpretation X X
Transcribed Image Text:Suppose you are interested in buying a new Lincoln Navigator or Town Car. You are standing on the sales lot looking at a model with different options. The list price is on the vehicle. As a salesperson approaches, you wonder what the dealer invoice price is for this model with its options. The following data are based on a random selection of these cars of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle. X y 31.2 34.3 36.1 44.0 29.8 30.0 32.0 42.1 (a) Verify that Ex = 193.4, Ey = 176.1, Ex² = 7673.98, Ey2 = 6365.29, Exy = 6983.52, and r≈ 0.969. ΣΧ 193.4 2y 176.1 Σχ2 7673.98 Σy2 6365.29 Exy 6983.52 r 0.969 47.8 42.2 (c) Verify that Se≈ 1.8281, a≈ 0.8021, and b≈ 0.8898. Se 1.8281 a 0.8021 b 0.8898 (d) Find the predicted dealer invoice when the list price is x = 36 (thousand dollars). (Use 2 decimal places.) 32.83 (e) Find a 99% confidence interval for y when x = 36 (thousand dollars). (Use 2 decimal place.) lower limit 34.17 upper limit 37.82 X X (f) Use a 1% level of significance to test the claim that ß> 0. (Use 2 decimal places.) t 6.76 critical t 5.84 Conclusion O Reject the null hypothesis, there is sufficient evidence that ß > 0. Reject the null hypothesis, there is insufficient evidence that ß > 0. O Fail to reject the null hypothesis, there is insufficient evidence that ß > 0. Fail to reject the null hypothesis, there is sufficient evidence that ß > 0. (g) Find a 99% confidence interval for ß and interpret its meaning. (Use 3 decimal places.) lower limit upper limit Interpretation X X
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