The following table show the price of used Honda Civics. Age in Years 3 4 5 7 8 9 13 14 Price in $ 23000 21500 17500 16500 13000 13500 11500 9000 Use Age as your explanatory variable and Price as your response variable and create a linear regression model. a) What is the correlation coefficient? _______ b) Describe the correlation. _________ c) Calculate the slope coefficient. Round your answer to 4 decimal places. _________ d) interpret the slope: The model predict that _______ will increase or decrease by __________ e) Calculate the y-intercept: Round your answer to 4 decimal places. _________ f) Interpret the y-intercept: The model predicts that the price of used civics is __________ g) Write the regression equation y^ = h) Use the model to predict the price for a `13 year old Civic. _______
The following table show the price of used Honda Civics. Age in Years 3 4 5 7 8 9 13 14 Price in $ 23000 21500 17500 16500 13000 13500 11500 9000 Use Age as your explanatory variable and Price as your response variable and create a linear regression model. a) What is the correlation coefficient? _______ b) Describe the correlation. _________ c) Calculate the slope coefficient. Round your answer to 4 decimal places. _________ d) interpret the slope: The model predict that _______ will increase or decrease by __________ e) Calculate the y-intercept: Round your answer to 4 decimal places. _________ f) Interpret the y-intercept: The model predicts that the price of used civics is __________ g) Write the regression equation y^ = h) Use the model to predict the price for a `13 year old Civic. _______
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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The following table show the price of used Honda Civics.
| Age in Years | 3 | 4 | 5 | 7 | 8 | 9 | 13 | 14 |
|---|---|---|---|---|---|---|---|---|
| Price in $ | 23000 | 21500 | 17500 | 16500 | 13000 | 13500 | 11500 | 9000 |
Use Age as your explanatory variable and Price as your response variable and create a linear regression model.
a) What is the
b) Describe the correlation. _________
c) Calculate the slope coefficient. Round your answer to 4 decimal places. _________
d) interpret the slope: The model predict that _______ will increase or decrease by __________
e) Calculate the y-intercept: Round your answer to 4 decimal places. _________
f) Interpret the y-intercept: The model predicts that the price of used civics is __________
g) Write the regression equation y^ =
h) Use the model to predict the price for a `13 year old Civic. _______
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Step 1: Write the given information.
VIEWStep 2: Compute the correlation coefficient for the given data set.
VIEWStep 3: Compute the slope coefficient and interpret it.
VIEWStep 4: Compute the y-intercept and interpret it.
VIEWStep 5: Write the regression equation and predict the price for a 13 year old Civic.
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