Reconsider the previous exercise on Used Honda Civics. a. Determine a 95% confidence interval for the population
Question:
Reconsider the previous exercise on Used Honda Civics.
a. Determine a 95% confidence interval for the population slope coefficient and interpret what this interval represents.
b. Based on your confidence interval, is there a negative association between age and price for used Honda Civics? Explain.
Data from previous exercise
The data in the file UsedHondaCivics come from a sample of used Honda Civics listed for sale online in July 2006. Th e variables recorded are the car’s age (calculated as 2006 minus year of manufacture) and price. Consider conducting an analysis to test whether the sample data provide strong evidence of an association between a car’s price and age in the population in terms of the population slope.
Step by Step Answer:
Introduction To Statistical Investigations
ISBN: 9781118172148
1st Edition
Authors: Beth L.Chance, George W.Cobb, Allan J.Rossman Nathan Tintle, Todd Swanson Soma Roy