The following information was obtained from a study of car maintenance. a. b. c.
ID: 2927999 • Letter: T
Question
The following information was obtained from a study of car maintenance.
a. b. c.
19. (Hypothetical) The following information was obtained from a study of car maintenance Age of a car (in years): X 8 and SDx 3 cost in annual maintenance/repairs(S): Y-190 and SD, Correlation: R 0.8 60 Assume X and Y are approximately normally distributed. (A) For a car that is nine (9) years old, what annual maintenance/repair cost is predicted'? (B) For a car that is five (5) years old, thus having a predicted annual maintenance/repair cost of $142, what is the chance that it will have an actual annual maintenance/repair cost of less tharn $100? (C) What is the regression equation for predicting the annual maintenance/repair cost given age of the car?Explanation / Answer
Ans:
c)Regression equation:
y=a+bx
Where,
slope,b=r*sy/sx=0.8*(60/3)=48/3=16
y-intercept=190-16*8=190-128=62
So,Regression eqn:
y=62+16x
a)when x=9
y=62+16*9=62+144=206
b)P(y<100)
z=(100-190)/60=-90/60=-1.5
P(z<-1.5)=0.0668
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