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A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86 The correlation coefficient was -0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.

A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86 The correlation coefficient was -0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2CYU
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A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86x. The correlation coefficient was –0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.
Transcribed Image Text:A statistics professor bought a new car for $35,000. For the next 5 years, she used several automotive web pages to estimate the value of the car. She then found the least-squares regression line for the data to be ŷ = 35035.71 – 4142.86x. The correlation coefficient was –0.99. Would it be accurate to use this equation to predict the value of the car after 10 years? No, because that would be extrapolation. No, because the value of cars is unpredictable over time. Yes, because the correlation is very strong.
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