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Use the advertised prices for used cars of a particular model in the accompanying table to create a linear model for the relationship between a car's Age and its Price Complete parts a through g. E Click the icon to view the data table. ... e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain.

Use the advertised prices for used cars of a particular model in the accompanying table to create a linear model for the relationship between a car's Age and its Price Complete parts a through g. E Click the icon to view the data table. ... e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain.

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter3: Polynomial Functions
Section3.5: Mathematical Modeling And Variation
Problem 71E
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Use the advertised prices for used cars of a particular model in the accompanying table to create a linear model for the relationship between a car's Age and its Price. Complete parts a through g. E Click the icon to view the data table. ...... e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. O A. The car with a positive residual is better because its actual price is above the predicted price for its age. Data table O B. The car with a positive residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Age (yr) Price Advertised ($) OD. The car with a negative residual is better because its actual price is below the predicted price for its age. 1 17,619 14,999 16,018 13,988 15,009 14,588 14,028 11,989 9,989 11,548 10,878 10,918 9,998 2 f) You see a "For Sale" sign on a 10-year-old car of this model stating the asking price as $10,400. What is the residual? 4. 4 | dollar(s) (Round to the nearest dollar as needed.) 6 7 8 9 12 es details.
Transcribed Image Text:Use the advertised prices for used cars of a particular model in the accompanying table to create a linear model for the relationship between a car's Age and its Price. Complete parts a through g. E Click the icon to view the data table. ...... e) You have a chance to buy one of two cars. They are about the same age and appear to be in equally good condition. Would you rather buy the one with a positive residual or the one with a negative residual? Explain. O A. The car with a positive residual is better because its actual price is above the predicted price for its age. Data table O B. The car with a positive residual is better because its actual price is below the predicted price for its age. OC. The car with a negative residual is better because its actual price is above the predicted price for its age. Age (yr) Price Advertised ($) OD. The car with a negative residual is better because its actual price is below the predicted price for its age. 1 17,619 14,999 16,018 13,988 15,009 14,588 14,028 11,989 9,989 11,548 10,878 10,918 9,998 2 f) You see a "For Sale" sign on a 10-year-old car of this model stating the asking price as $10,400. What is the residual? 4. 4 | dollar(s) (Round to the nearest dollar as needed.) 6 7 8 9 12 es details.
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