NOVThe scatterplot below shows the relationship between miles driven, x, and sale price, y, for several cars of aspecific model on a used car website. The least-squares line is also shown on the scatterplot. The equation of theleast-squares line is ŷ = 17164.3-0.084x. Which of the following statements correctly interprets the y-intercept ofthe least-squares line?Price ($)Price versus Miles Driven for Used Cars30,00020,00010,0000Mark this and return50,000 100,000 150,000 200,000Miles Driven (Miles)Save and ExitSMacBook ProtvNextSubmit Price ($)O O O O30,00020,00010,000050,000 100,000 150,000 200,000Miles Driven (Miles)O For a car of this model with 0 miles driven, the model predicts the price to be $17,164.30.O For a car of this model with 17,164.3 miles driven, the model predicts the price to be $0.For a car of this model with 204,336 miles driven, the model predicts the price to be $0.For each additional mile driven, the model predicts a decrease in price of $0.084 for a car of this model.O For a car of this model with 0 miles driven, the model predicts the price to be $0.084.Mark this and returnSave and ExittvNext01:00:Submit

The regression equation is y=17164.3-0.084x.

Answered: The scatterplot below shows the…

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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Report the equation of the regression line and interpret it in the context of the problem
We use the form ŷ = a + bx for the least-squares line. In some computer printouts, the least-squares equation is not given directly. Instead, the value of the constant a is given, and the coefficient b of the explanatory or predictor variable is displayed. Sometimes a is referred to as the constant, and sometimes as the intercept. Data from a report showed the following relationship between elevation (in thousands of feet) and average number of frost-free days per year in a state. A Minitab printout provides the following information. Predictor Coef SE Coef T P Constant 316.08 28.31 11.24 0.002 Elevation -31.974 3.511 -8.79 0.003 S = 11.8603 R-Sq = 97.8% Notice that "Elevation" is listed under "Predictor." This means that elevation is the explanatory variable x. Its coefficient is the slope b. "Constant" refers to a in the equation ŷ = a + bx. (a) Use the printout to write the least-squares equation. ŷ = 316.08 +-31.974x For each 1000-foot increase in…
We use the form ŷ = a + bx for the least-squares line. In some computer printouts, the least-squares equation is not given directly. Instead, the value of the constant a is given, and the coefficient b of the explanatory or predictor variable is displayed. Sometimes a is referred to as the constant, and sometimes as the intercept. Data from a report showed the following relationship between elevation (in thousands of feet) and average number of frost-free days per year in a state. A Minitab printout provides the following information. Predictor Coef SE Coef T P Constant 316.62 28.31 11.24 0.002 Elevation -30.516 3.511 -8.79 0.003 S = 11.8603 R-Sq = 96.2% The printout gives the value of the coefficient of determination r2. What is the value of r? Be sure to give the correct sign for r based on the sign of b. (Round your answer to four decimal places.) What percentage of the variation in y can be explained by the corresponding variation in x and the least-squares…
We use the form ŷ = a + bx for the least-squares line. In some computer printouts, the least-squares equation is not given directly. Instead, the value of the constant a is given, and the coefficient b of the explanatory or predictor variable is displayed. Sometimes a is referred to as the constant, and sometimes as the intercept. Data from a report showed the following relationship between elevation (in thousands of feet) and average number of frost-free days per year in a state. A Minitab printout provides the following information. Predictor Coef SE Coef T. Constant 317.97 28.31 11.24 0.002 Elevation -28.572 3.511 -8.79 0.003 S = 11.8603 R-Sq 94.2% %3D Notice that "Elevation" is listed under "Predictor." This means that elevation is the explanatory variable x. Its coefficient is the slope b. "Constant" refers to a in the equation ŷ = a + bx. (a) Use the printout to write the least-squares equation. %3D (b) For each 1000-foot increase in elevation, how many fewer frost-free days are…
We use the form ŷ = a + bx for the least-squares line. In some computer printouts, the least-squares equation is not given directly. Instead, the value of the constant a is given, and the coefficient b of the explanatory or predictor variable is displayed. Sometimes a is referred to as the constant, and sometimes as the intercept. Data from a report showed the following relationship between elevation (in thousands of feet) and average number of frost-free days per year in a state. A Minitab printout provides the following information. Predictor Сoef SE Coef T Constant 317.43 28.31 11.24 0.002 Elevation -31.272 3.511 -8.79 0.003 S = 11.8603 R-Sq = 96.2% Notice that "Elevation" is listed under "Predictor." This means that elevation is the explanatory variable x. Its coefficient is the slope b. "Constant" refers to a in the equation ŷ = a + bx. (a) Use the printout to write the least-squares equation. ŷ = 317.43 -31.272 (b) For each 1000-foot increase in elevation, how many fewer…
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Please help me better understand how to solve this word problem. In a study of 2000 model cars, a researcher computed the least-squares regression line of price (in collars) on horsepower. He obtained the following equation of: Price = -7000 + 170 X horsepower. Based on the least-squares regression line, what would we predict the cost of a 2000 model car with horsepower equal to 230 to be (assuming no extrapolation error)?
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Please answer both subparts with explanation . Without using Excel. I will really upvote. Thanks
It is thought that basketball teams that make too many fouls in a game tend to lose the game even if they otherwise play well. Let x be the number of fouls more than (i.e., over and above) the opposing team. Let y be the percentage of times the team with the larger number of fouls wins the game. 4 y 48 42 33 26 A USE SALT Complete parts (a) through (e), given Ex = 15, Ey = 149, Ex² = 77, Ey² = 5833, Exy = 489, and r= -0.9106. (a) Draw a scatter diagram displaying the data. 55 Graph Layers After you add an object to the graph you 50 can use Graph Layers to view and edit its properties. Fill 45 40 35 No Solution 30 25 20 O Help WebAssign. Graphing Tool ( b) Verify the given sums Σχ, Σγ, Σχ, Σy, Σχy, and the value of the sample correlation coefficient r. (Round your value forr to four decimal places.) Σχ Ey = Ex? = Ey? = Exy = r =
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