The price of a previously owned Malibu car depends upon factors such as model year, mileage and condition. We want to investigate the relationship between a car's mileage and sale price for 30 sales. Use Data CHEV8. Draw a scatter plot of the data and comment on the relationship between the two variables. Determine the regression equation that best describe the relationship. Interpret the slope of the regression equation. Test for a significant relationship, using a = 0.05. Show all steps Construct a 98% confidence interval for the slope. Estimate the price of a Malibu car that has been driven for 85000 miles. Would you pay this price? Construct 99% confidence interval for the average price of a Malibu car that has 85000 miles
The price of a previously owned Malibu car depends upon factors such as model year, mileage and condition. We want to investigate the relationship between a car's mileage and sale price for 30 sales. Use Data CHEV8. Draw a scatter plot of the data and comment on the relationship between the two variables. Determine the regression equation that best describe the relationship. Interpret the slope of the regression equation. Test for a significant relationship, using a = 0.05. Show all steps Construct a 98% confidence interval for the slope. Estimate the price of a Malibu car that has been driven for 85000 miles. Would you pay this price? Construct 99% confidence interval for the average price of a Malibu car that has 85000 miles
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 price of a previously owned Malibu car depends upon factors such as model year, mileage and condition. We want to investigate the relationship between a car's mileage and sale price for 30 sales. Use Data CHEV8.
- Draw a
scatter plot of the data and comment on the relationship between the two variables. - Determine the regression equation that best describe the relationship. Interpret the slope of the regression equation.
- Test for a significant relationship, using a = 0.05. Show all steps
- Construct a 98% confidence interval for the slope.
- Estimate the price of a Malibu car that has been driven for 85000 miles. Would you pay this price?
- Construct 99% confidence interval for the average price of a Malibu car that has 85000 miles

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Miles Price
(1000s) ($1000s)
AA
22
28
36
47
63
77
73
87
92
101
110
28
59
68
68
91
42
65
110
100
45
65
110
115
95
90
125
130
25
18
16.2
16
13.8
11.5
12.5
12.9
11.2
13
11.8
10.8
8.3
12.5
11.1
15
12.2
13
CHEV8.xlsx
15.6
12.7
8.8
8.5
14.5
11.5
10
10.3
13
12
8.7
8.8
17.8
17
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Step 1: Given Information
VIEWStep 2: Construct the scatter plot
VIEWStep 3: Determine the regression equation for the given data.
VIEWStep 4: Determine the significance of the relationship
VIEWStep 5: Determine the confidence interval for the slope
VIEWStep 6: Predict the car price
VIEWStep 7: Determine the confidence interval for the average price
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