a) Construct a scatterplot for these age and price data. b) Draw a simple linear regression line. c) Describe the apparent relationship between age and price of second-hand car. d) Interpret the slope of the regression line in terms of prices for second-hand car. e) Use the regression equation to predict the price of a 3-year-old second hand car and a 4- year-old second hand car.

Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
Chapter9: Surfaces And Solids
Section9.1: Prisms, Area And Volume
Problem 13E: Generalize the results found in Exercise 11 and 12 by answering each of the following questions....
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Table 2 displays data on age and price for the second-hand car in Malaysia for particular make
and model. Ages are in years and price are in hundreds of RM (Ringgit Malaysia).
a)
b)
c)
d)
e)
Table 2: Age and price for the second-hand car
Age (year) Price (RM 100)
85
103
70
82
89
98
66
5
4
6
5
5
5
6
6
2
7
7
95
169
70
48
Construct a scatterplot for these age and price data.
Draw a simple linear regression line.
Describe the apparent relationship between age and price of second-hand car.
Interpret the slope of the regression line in terms of prices for second-hand car.
Use the regression equation to predict the price of a 3-year-old second hand car and a 4-
year-old second hand car.
Transcribed Image Text:Table 2 displays data on age and price for the second-hand car in Malaysia for particular make and model. Ages are in years and price are in hundreds of RM (Ringgit Malaysia). a) b) c) d) e) Table 2: Age and price for the second-hand car Age (year) Price (RM 100) 85 103 70 82 89 98 66 5 4 6 5 5 5 6 6 2 7 7 95 169 70 48 Construct a scatterplot for these age and price data. Draw a simple linear regression line. Describe the apparent relationship between age and price of second-hand car. Interpret the slope of the regression line in terms of prices for second-hand car. Use the regression equation to predict the price of a 3-year-old second hand car and a 4- year-old second hand car.
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