Question: Using the computer output, what is the predicted price for a car with 10, 000 miles on the odometer? A statistics student is studying if
Using the computer output, what is the predicted price for a car with 10, 000 miles on the odometer? A statistics student is studying if there is a relationship between the price of a used car and the number of miles it had been driven. She collects data for 20 cars of the same model with different mileage and determines each car's price using a used car website . The analysis is given in the computer output Predictor Coef SE Coef tratio Constant 24157.2 2164.1 2.965 0.046 Mileage -0.181 0.024 5.377 0.000 S=386 theta. R -Sq = 68.0 % R-Sq(Adj)=67.5\% $ 22,347.20 $23,917.20 $24,157.20 $
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