The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a randomsample of 12 used cars sold at Maumee Motors during the last year:Car Age (years) ($ thousands)4Selling Price$3.1Selling PriceCar Age (years) ($ thousands)4$3.622544123456TITT4.26.09.44.64.9a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimalplaces.)r =b. Determine the coefficient of determination. (Round the final answer to 3 decimal places.)c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearestwhole number.)Weak negative (inverse) correlation between age of car and selling price. So,explained by the variation in the age of the car.percent of the variation in the selling price is

Step 1: Calculate the Correlation Coefficient (r)Standardize the Data: This step isn't always…

Answered: The owner of Maumee Motors wants to…

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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You may need to use the appropriate appendix table or technology to answer this question. The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time.com). The following random samples show the annual cost of attending private and public colleges. Data are in thousands of dollars. Private Colleges Public Colleges 52.8 44.2 45.0 33.3 44.0 20.3 22.0 28.2 15.6 24.1 28.5 31.6 44.8 36.8 50.5 43.0 22.8 25.8 18.5 25.6 14.4 21.8 (a) Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for private colleges. (Round the standard deviation to two decimal places.) sample mean $ 42.6 v thousand sample standard deviation $ 6.85 v thousand Compute the sample mean (in thousand dollars) and sample standard deviation (in thousand dollars) for public colleges. (Round the standard deviation to two decimal places.) v thousand v thousand sample mean $ 22.3 sample standard deviation $ 4.53 (b) What…
The average house has 14 paintings on its walls. Is the mean larger for houses owned by teachers? The data show the results of a survey of 14 teachers who were asked how many paintings they have in their houses. Assume that the distribution of the population is normal. 15, 13, 16, 16, 17, 14, 14, 15, 13, 13, 15, 16, 15, 16 What can be concluded at the a = 0.01 level of significance? a. For this study, we should use Select an answer b. The null and alternative hypotheses would be: Но: ? Select an answer v H: ?v Select an answer v c. The test statistic ? v = (please show your answer to 3 decimal places.) d. The p-value = (Please show your answer to 4 decimal places.) e. The p-value is ? va f. Based on this, we should Select an answer v the null hypothesis. g. Thus, the final conclusion is that ... O The data suggest that the population mean number of paintings that are in teachers' houses is not significantly more than 14 at a = 0.01, so there is insufficient evidence to conclude that…
What is one indication that there are paired samples in a data set? Choose the correct answer below. O A. Knowing the value that a subject has in one group gives one no information about the value in the second group. OB. Each observation in one group is coupled with one particular observation in the other group. OC. The researcher is comparing two populations. O D. The researcher is working with two distinct groups in the data set.
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 11 12.1 2 8 10.5 3 14 5.7 4 17 4.9 5 9 5.0 6 8 13.4 7 10 10.5 8 14 9.0 9 13 9.0 10 17 4.5 11 6 12.5 12 6 11.5 Click here for the Excel Data Filea. Determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.) a= b= Estimate the selling price of an 7-year-old car (in $000). (Round your answer to 3 decimal places.) Interpret the regression equation (in dollars). (Round your answer to the nearest dollar amount.)
In a study of computer use, 1000 randomly selected Canadian Internet users were asked how much time they spend using the Internet in a typical week. The mean of the sample observations was 12.6 hours.
You decide that you want to make sure your estimate from part a is correct. You go out and gather 10 simple random samples of 25 people in your school and calculate the proportion of students within each sample whose Amazon packages arrive within two business days of ordering. The proportion of customers that receive their packages within two days of ordering are given below. 0.70, 0.75, 0.6, 0.95, 0.90, 0.73, 0.87, 0.86, 0.92, 0.97 Explain why all of the sample proportions are not the same.
As a Stock Analyst you compare the performance (measured as average increase in price from 20 may 2020 to 27 may 2020) of two sectors in the American stock exchange. You randomly choose 29 stocks from the finance sector and 29 stocks from the infrastructure and utility sector. This is an example of two dependent samples. INSTRUCTIONS TRUE or FALSE ?

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