Answered: The Honda Accord was named the best…

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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Transcribed Image Text:The Honda Accord was named the best midsized car for resale value for 2018 by the Kelley Blue Book (Kelley Blue Book website). The file AutoResale contains mileage, age, and selling price for a sample of 33 Honda Accords. Click on the datafile logo to reference the data. DATA file The estimated regression equation is Selling price = 20385.25049 – 0.03739 Mileage – 686.33668 Age Round your answers to the nearest dollar. a. Estimate the selling price of a four-year-old Honda Accord with mileage of 40,000 miles. b. Develop a 95% confidence interval for the selling price of a car with the data in part (a). c. Develop a 95% prediction interval for the selling price of a car with the data in part (a).

Price
Mileage
Age
16998
35000
17599
16000
15998
42000
3
15998
61000
4
11599
102000
7
13998
109000
4
14998
60000
11599
88000
12599
58000
8.
14998
27000
6.
15998
32000
4
11599
95000
8.
10499
123000
8
14599
54000
10599
68000
11
16998
40000
20998
7000
11599
81000
12599
70000
6.
13599
86000
11599
92000
7
9599
120000
10
18998
20000
2
12599
63000
12599
70000
10998
88000
10
11998
86000
6.
12998
60000
6
17599
45000
9998
96000
11
9998
60000
11
16998
36000
2
17599
45000
2
m3
st
1.
2.

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Step 1

Multiple Linear Regression:

It is to model one dependent variable with two or more independent variables to predict the response variable from the explanatory variables. Also in the model, there is the intercept and the slopes of the explanatory variables.

$y = β_{0} + β_{1} x_{1} + β_{2} x_{2} + ε$ .

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