Chapter 13, Section 13.1, Problem 020be An auto manufacturing company wanted to

Question

Chapter 13, Section 13.1, Problem 020be An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the ages (in years) and prices (in hundreds of dollars) of these cars. Age 2 6 5 8 4 5 5 2 Price 83 53 47 25 61 57 54 84 Find the least squares regression line equation in the form = a + br. use "Age" as the independent variable and "Price" as the dependent variable. Round your answers to four decimal places. hx Predict the price of a 3 year-old car of this model Round your answer to one decimal place prod the tolerance is +/-296

Explanation / Answer

y = -9.3274x + 101.14

Price = -9.3274*Age + 101.14

Price = -9.3274*3 + 101.14 = 73.2

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.