# Question

Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle.

a. Plot these data on a scatter diagram with estimated cost as the dependent variable.

b. Find the correlation coefficient.

c. A regression analysis was performed and the resulting regression equation is Estimated Cost 5 18358 2 1534 Age. Interpret the meaning of the slope.

d. Estimate the cost of a five-year-old car.

e. Here is a portion of the regression software output. What does it tell you?

f. Using the .10 significance level, test the significance of the slope. Interpret the result. Is there a significant relationship between the twovariables?

a. Plot these data on a scatter diagram with estimated cost as the dependent variable.

b. Find the correlation coefficient.

c. A regression analysis was performed and the resulting regression equation is Estimated Cost 5 18358 2 1534 Age. Interpret the meaning of the slope.

d. Estimate the cost of a five-year-old car.

e. Here is a portion of the regression software output. What does it tell you?

f. Using the .10 significance level, test the significance of the slope. Interpret the result. Is there a significant relationship between the twovariables?

## Answer to relevant Questions

The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases ...The following table shows the mean annual percent return on capital (profitability) and the mean annual percentage sales growth for eight aerospace and defense companies.a. Compute the correlation coefficient. Conduct a ...Refer to the Baseball 2012 data, which reports information on the 2012 Major League Baseball season. Let attendance be the dependent variable and total team salary, in millions of dollars, be the independent variable. ...Refer to Exercise 5. The regression equation is yˆ = 29.29 – 0.96x, the sample size is 8, and the standard error of the slope is 0.22. Use the .05 significance level. Can we conclude that the slope of the regression line ...On the first statistics exam, the coefficient of determination between the hours studied and the grade earned was 80%. The standard error of estimate was 10. There were 20 students in the class. Develop an ANOVA table for ...Post your question

0