This test: 12 Test: Chapter 14-15 Test

Test: Chapter 14-15 Test < Question 10 of 12 > This test: 12 p This question: Following are age and price data for 10 randomly selected Corvettes between 1 and 6 years old. Here. x denotes age, in years, and y denotes price, in hundreds of dollars. For the ac y = 446875 - 25.375x, complete parts (a) through (d) below. 6 5 6 x 97 285 283 412 398 307 342 323 431 325 Click the icon to view the table of normal scores. a. Compute the standard error of the estimate and interpret your answer. = (Round to three decimal places as needed.) s Interpret your result for s . Choose the correct interpretation below. O A. The predicted price of a car in the sample will differ. on average, from the observed price by an amount equal to the standard error of the estimate, in hundreds of dollars. O B. Approximately 95% of cars in the population have an actual price that differs from the predicted price by at most an amount equal to the standard error of the estimate, in hundre C) C. The actual price of a single randomly selected car will differ, on average, from the predicted price by an amount equal to the standard error of the estimate, in hundreds of dollars O D. Approximately 95% of cars in the sample have an actual price that differs from the predicted price by at most an amount equal to the standard error of the estimate, in hundreds c b. Interpret your result from part (a) if the assumptions for regression inferences hold. Choose the correct interpretation below. C) A. Presuming that the variables age and price for Corvettes satisfy the assumptions for regression inferences, the standard error of the estimate provides an estimate for the slope, Corvettes of any particular price. C) B. Presuming that the variables age and price for Corvettes satisfy the assumptions for regression inferences. the standard error of the estimate provides an estimate for the slope, Corvettes of any particular age, C) C. Presuming that the variables age and price for Corvettes satisfy the assumptions for regression inferences, the standard error of the estimate provides an estimate for the common Corvettes of any particular pnce. C) D. Presuming that the variables age and price for Corvettes satisfy the assumptions for regression inferences. the standard error of the estimate provides an estimate for the common Corvettes of any particular age. MacBook Air