A least squares regression was used to estimate the relationship between the dollar price P of 45 used 2001 Audi A4 2.8L sedans with manual transmission and the number of miles M the car had been driven: P = 16,958 – 0.0677M, R² = 0.70 (2,553) (0.0233) The standard errors are in parentheses. a. Does the value 16,958 seem reasonable? b. Does the value –0.0677 seem reasonable? c. Does the value 0.70 seem reasonable?

A least squares regression was used to estimate the relationship between the dollar price P of 45 used 2001 Audi A4 2.8L sedans with manual transmission and the number of miles M the car had been driven: P = 16,958 – 0.0677M, R² = 0.70 (2,553) (0.0233) The standard errors are in parentheses. a. Does the value 16,958 seem reasonable? b. Does the value –0.0677 seem reasonable? c. Does the value 0.70 seem reasonable?

Linear Algebra: A Modern Introduction

4th Edition

ISBN:9781285463247

Author:David Poole

Publisher:David Poole

Chapter7: Distance And Approximation

Section7.3: Least Squares Approximation

Problem 31EQ

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