The following data represent y the number of passenger cars retired from service and x the number of new passenger cars registered during the years 19911995 a Determine the least squares regression line and interpret its slope b Estimate, for a year in which x 7 0 million new passenger cars are reg...

Mathematics
Introduction to business statistics
The following data represent y = the number of passenger

The following data represent y = the number of passenger cars retired from service and x = the number of

Question:

The following data represent y = the number of passenger cars retired from service and x = the number of new passenger cars registered during the years 1991€“1995.

x = New-Car y = Cars Retired from Service Registrations (Millions) (Millions) Year 8.565 1991 8.175 1992 8.213 11.194 19

a. Determine the least-squares regression line and interpret its slope.
b. Estimate, for a year in which x = 7.0 million new passenger cars are registered, the number of cars that will be retired from service.
c. Estimate, for a year in which 9.0 million new passenger cars are registered, the number of cars that will be retired from service.

Transcribed Image Text:

x = New-Car y = Cars Retired from Service Registrations (Millions) (Millions) Year 8.565 1991 8.175 1992 8.213 11.194 1993 8.518 7.366 7.824 1994 8.990 1995 8.635 7.414

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