Homework Help is Here – Start Your Trial Now!
Math
Statistics
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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, -42.45 -0.52x. This line is shown in the scatter plot in Figure 1. Used selling price, Mileage, x (in thousands) (in thousands of dollars) 28.1 25.8 27.2 30.4 29.5 26.8 23.7 27.9 38.8 21.1 27.8 30.3 34.1 25.8 23.0 31.8 23.4 33.4 254 25.9 27.1 37.6 22.8 20 24.2 29.5 21.1 30.8 20.8 31.2 Figure 1 15.4 34.5 24.3 27.4 Send data to Excel Using the above information, answer the following: 1. Fill in the blank: For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are Choose one - the mean of the used selling prices. 2. Fill in the blank: According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding of 0.52 thousand dollars in the used selling Choose one price. 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 21.6 thousand miles? (Round your answer to at least one decimal place.) 4. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 37.6 thousand miles? (Round your answer to at least one decimal place.)

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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, -42.45 -0.52x. This line is shown in the scatter plot in Figure 1. Used selling price, Mileage, x (in thousands) (in thousands of dollars) 28.1 25.8 27.2 30.4 29.5 26.8 23.7 27.9 38.8 21.1 27.8 30.3 34.1 25.8 23.0 31.8 23.4 33.4 254 25.9 27.1 37.6 22.8 20 24.2 29.5 21.1 30.8 20.8 31.2 Figure 1 15.4 34.5 24.3 27.4 Send data to Excel Using the above information, answer the following: 1. Fill in the blank: For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are Choose one - the mean of the used selling prices. 2. Fill in the blank: According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding of 0.52 thousand dollars in the used selling Choose one price. 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 21.6 thousand miles? (Round your answer to at least one decimal place.) 4. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 37.6 thousand miles? (Round your answer to at least one decimal place.)

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
See similar textbooks
icon
Related questions
icon
Concept explainers
Question
2:47 AA www-awn.aleks.com O REGRESSION AND CORRELATION Predictions from the least-. 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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, §=42.45– 0.52x. This line is shown in the scatter plot in Figure 1. Used selling price, y (in thousands of dollars) Mileage, x (in thousands) 28.1 25.8 27.2 30.4 29.5 26.8 23.7 27.9 38.8 21.1 27.8 30.3 34.1 25.8 30 23.0 31.8 23.4 33.4 25 25.9 27.1 37.6 22.8 20. 24.2 29.5 21.1 30.8 20.8 31.2 Figure 1 15.4 34.5 24.3 27.4 Send data to Excel Using the above information, answer the following: 1. Fill in the blank: For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are the mean of the used selling prices. Choose one 2. Fill in the blank: According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding of 0.52 thousand dollars in the used selling price. Choose one 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 21.6 thousand miles? (Round your answer to at least one decimal place.) 4. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 37.6 thousand miles? (Round your answer to at least one decimal place.) ? Explanation Check
Transcribed Image Text:2:47 AA www-awn.aleks.com O REGRESSION AND CORRELATION Predictions from the least-. 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. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, §=42.45– 0.52x. This line is shown in the scatter plot in Figure 1. Used selling price, y (in thousands of dollars) Mileage, x (in thousands) 28.1 25.8 27.2 30.4 29.5 26.8 23.7 27.9 38.8 21.1 27.8 30.3 34.1 25.8 30 23.0 31.8 23.4 33.4 25 25.9 27.1 37.6 22.8 20. 24.2 29.5 21.1 30.8 20.8 31.2 Figure 1 15.4 34.5 24.3 27.4 Send data to Excel Using the above information, answer the following: 1. Fill in the blank: For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are the mean of the used selling prices. Choose one 2. Fill in the blank: According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding of 0.52 thousand dollars in the used selling price. Choose one 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 21.6 thousand miles? (Round your answer to at least one decimal place.) 4. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 37.6 thousand miles? (Round your answer to at least one decimal place.) ? Explanation Check
Expert Solution
Step 1

Consider the following given information-

Statistics homework question answer, step 1, image 1

The regression is given by,

Y^=42.45-0.52X

trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Correlation, Regression, and Association
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman
SEE MORE TEXTBOOKS