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. Car Age (years) Selling Price ($000) 1 9 8.1 2 7 6.0 3 11 3.6 4 12 4.0 5 8 5.0 6 7 10.0 7 8 7.6 8 11 8.0 9 10 8.0 10 12 6.0 11 6 8.6 12 6 8.0 Click here for the Excel Data File 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? b-1. Determine the correlation coefficient. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) x y x−x¯x-x¯ y−y¯y-y¯ (x−x¯)2x-x¯2 (y−y¯)2y-y¯2 (x−x¯) (y−y¯)x-x¯ y-y¯ 9.0 8.1 1.192 0.007 1.420 0.099 7.0 6.0 −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

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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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.

Car		Age (years)	Selling Price ($000)
	1			9	8.1
	2			7	6.0
	3			11	3.6
	4			12	4.0
	5			8	5.0
	6			7	10.0
	7			8	7.6
	8			11	8.0
	9			10	8.0
	10			12	6.0
	11			6	8.6
	12			6	8.0

Click here for the Excel Data File

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?

b-1. Determine the correlation coefficient. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

x	y	x−x¯x-x¯		y−y¯y-y¯	(x−x¯)2x-x¯2		(y−y¯)2y-y¯2	(x−x¯) (y−y¯)x-x¯ y-y¯
9.0	8.1					1.192			0.007	1.420	0.099
7.0	6.0					−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

x¯x¯

y¯y¯

S_x

S_y

b-2. Determine the coefficient of determination. (Round your answer to 3 decimal places.)

Interpret the correlation coefficient. Does it surprise you that the correlation coefficient is negative? (Round your answer to the nearest whole number.)

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