# Question: Emily Smith decides to buy a fuel efficient used car Here

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?

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