Math Problem Statement
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivanate, data given below were taken from a sample of saxheen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the cadet was sold used. The wast-податен regression line for these data has equation y 41,77-0.50x. This line is shown in the scatter.olet below.
Mileage, x (in thousands)
Used selling price, y (in thousands of dollars)
23.2
30.9
37.5
22.8
23.4
35.4
39.2
21.0
24.2
20
24,2
28.2
28.0
30.1
23,9
279
20.5
30.4
259
265
29.4
28:4
15.8
339
20.9
31.3
344
20.1
27.2
209
28.1
25.5
?
Used selling price on thousands of dollars)
Mileagex (in thousands)
Sond data su Excl
Based on the sample data and the regression line, complete the following
(A) For these data, used selling prices tsar, are greater than the mean of the used selling prices lend in be paired with mileages that are (Choose one) mileages.
(B) According in the regression education, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?
Solution
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Math Problem Analysis
Mathematical Concepts
Regression Analysis
Linear Regression
Slope-Intercept Form
Formulas
Slope-intercept form of a linear equation: y = mx + b
Theorems
-
Suitable Grade Level
Advanced High School
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