Exercise 13-6 (LO13-2)The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is arandom sample of 12 used cars sold at the dealership during the last year.Age(years)Selling Price($000)Car9.8.176.03113.6124.085.06.710.077.68.118.09108.010126.01168.6128.0E Click here for the Excel Data Filea. If we want to estimate selling price on the basis of the age of the car, which variable is the dependent variable and which is theindependent variable?Ageis the independent variable and selling prices the dependent variable. b-1. Determine the correlation coefficient. (Negative amounts should be indicated by a minus sign. Round your answers to 3decimal places.)y - y(x –(y –(x – a) (y – 9)y9.08.1811.1920.0071.4200.0997.06.049-0.9083.6740.8251.74111.03.62.0834.34010.945-6.89212.04.03.0839.5078.458-8.9678.05.0-0.917-1.9083.6421.7497.0 10.0-1.9173.0929.558-5.9268.07.6-0.9170.6920.840-0.63411.08.02.0831.0924.3402.27410.08.01.0831.0921.1741.19212.06.03.083-0.9089.5070.8256.08.6-2.9171.6928.5072.862-4.9346.08.0-2.9171.0928.5071.192-3.184107.0 82.9Sx =Sy =r =-0.544b-2. Determine the coefficient of determination. (Round your answer to 3 decimal places.)Coefficient of determination

b-1 x y x-x¯ y-y¯ x-x¯2 y-y¯2 x-x¯y-y¯ 9 8.1 0.083 1.192 0.007 1.421 0.0989 7 6 -1.917 -0.908…

The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is andom sample of 12 used cars sold at the dealership during the last year. Age (years) Selling Price (S000) Car 1 8.1 2 7 6.0 11 3.6 4 12 4.0 5.0 7 10.0 7 8 7.6 11 8.0 9. 10 8.0 10 12 6.0

The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is andom sample of 12 used cars sold at the dealership during the last year. Age (years) Selling Price (S000) Car 1 8.1 2 7 6.0 11 3.6 4 12 4.0 5.0 7 10.0 7 8 7.6 11 8.0 9. 10 8.0 10 12 6.0

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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Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

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Exercise 13-6 (LO13-2)
The owner of Maumee Ford-Volvo wants to study the relationship between the age of a car and its selling price. Listed below is a
random sample of 12 used cars sold at the dealership during the last year.
Age
(years)
Selling Price
($000)
Car
9.
8.1
7
6.0
3
11
3.6
12
4.0
8
5.0
6.
7
10.0
7
7.6
8.
11
8.0
9
10
8.0
10
12
6.0
11
6
8.6
12
8.0
E Click here for the Excel Data File
a. If we want to estimate selling price on the basis of the age of the car, which variable is the dependent variable and which is the
independent variable?
Age
is the independent variable and selling price
s the dependent variable.

b-1. Determine the correlation coefficient. (Negative amounts should be indicated by a minus sign. Round your answers to 3
decimal places.)
y - y
(x –
(y –
(x – a) (y – 9)
y
9.0
8.1
81
1.192
0.007
1.420
0.099
7.0
6.0
49
-0.908
3.674
0.825
1.741
11.0
3.6
2.083
4.340
10.945
-6.892
12.0
4.0
3.083
9.507
8.458
-8.967
8.0
5.0
-0.917
-1.908
3.642
1.749
7.0 10.0
-1.917
3.092
9.558
-5.926
8.0
7.6
-0.917
0.692
0.840
-0.634
11.0
8.0
2.083
1.092
4.340
2.274
10.0
8.0
1.083
1.092
1.174
1.192
12.0
6.0
3.083
-0.908
9.507
0.825
6.0
8.6
-2.917
1.692
8.507
2.862
-4.934
6.0
8.0
-2.917
1.092
8.507
1.192
-3.184
107.0 82.9
Sx =
Sy =
r =
-0.544
b-2. Determine the coefficient of determination. (Round your answer to 3 decimal places.)
Coefficient of determination

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