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
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ISBN:9781119256830
Author:Amos Gilat
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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.

  1. Draw a scatter plot of the data and comment on the relationship between the two variables.
  2. Determine the regression equation that best describe the relationship. Interpret the slope of the regression equation.
  3. Test for a significant relationship, using a = 0.05. Show all steps
  4. Construct a 98% confidence interval for the slope.
  5. Estimate the price of a Malibu car that has been driven for 85000 miles. Would you pay this price?
  6. Construct 99% confidence interval for the average price of a Malibu car that has 85000 miles
=
6:52 ★
x
CHEV8.xlsx
<
1
This preview may have altered the layout of this file.
You can still download the original file.
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
+
texsu.blackboard.com
37
Ć
кя
KY
×
Transcribed Image Text:= 6:52 ★ x CHEV8.xlsx < 1 This preview may have altered the layout of this file. You can still download the original file. 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 + texsu.blackboard.com 37 Ć кя KY ×
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