Statistics Essay

1417 WordsMar 8, 20136 Pages
Executive Summary Business Statistics In this assignment I compiled the data of the Nissan GT-R 3.8 (R35). The Data collected includes the age, type and price which allowed me to make a statistic about how the age affects the price of this certain model over several years. I will be using the correlation regression and scatter diagram to get the regression line. As we can see, the price drops the elder the car is. Inside the range of the diagram the prediction might be accurate. So we can tell very precisely how much the car is going to cost in the next few years, but we won’t be able to give a very precise prediction on how much the car is going to cost after a long term (more than 10 years). This project shows the readers to justify…show more content…
X = 2.5 is within the range, which means that the estimation might be accurate as we are interpolating. * When age of the car (x) = 10 Years old, price of the car will be (y) = Y= CHF 41853. X=10 is outside the range, which mean that the estimation might be inaccurate as we are extrapolating. 8.0 Referencing 1. Francis, Andre, 2004 Business mathematics and Statistics

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