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 y^ =35035.71−4142.86x where yy is the value of the car and xx is the years since she purchased it. Predict the value of her vehicle after 6 years.

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 y^ =35035.71−4142.86x where yy is the value of the car and xx is the years since she purchased it. Predict the value of her vehicle after 6 years.

Trigonometry (MindTap Course List)

8th Edition

ISBN:9781305652224

Author:Charles P. McKeague, Mark D. Turner

Publisher:Charles P. McKeague, Mark D. Turner

Chapter4: Graphing And Inverse Functions

Section: Chapter Questions

Problem 6GP: If your graphing calculator is capable of computing a least-squares sinusoidal regression model, use...

See similar textbooks

Similar questions

Find the equation of the regression line using the method of least squareswrite your solution clearly. thanks
If you were a student, inscribe the things you’ve learned about the different concepts of Linear Regression. Along with, how will you apply it in real-life Situation. Give at least 2 paragraphs each. (Take note to separate the “things you’ve learned” and the “how will you apply it”).
A car dealer wants to estimate the price of a used car based on the age of the car and the mileage. Based on a sample of 20 cars, she determines the sample regression equation that predicts price taxes on the basis of the age (in years) of the number of miles is Price=21,510-1230Age-0.035 Miles (a) If the age of the car was fixed and the mileage was increased by 10,000, would the price increase or decrease and by how much? (b) Predict the selling price of a five-year-old car with 65,000 miles. (Round your answers to the nearest whole number.)
Write down the regression model with the unknown coefficients.
If you have 2 datasets on which you have conducted a regression analysis, how would you determine whether you can combine them into one dataset?
the least squares regression line for predicting the temperature from the chirp rate is y=32.298+12.297x. If the two chirp rates differ by 1.5 chirps per second, by how much would the temperature differ?
Write down the different Multiple Regression Equations?
What is the equation of the regression line
A researcher is using the regression model Y=61+4.5X to predict a persons score on a happiness questionnaire based on their number of friends Predict the happiness score for someone with 8 friends
A real estate analyst has developed a multiple regression line, y = 60 + 0.068 x1 – 2.5 x2, to predict y = the market price of a home (in $1,000s), using two independent variables, x1 = the total number of square feet of living space, and x2 = the age of the house in years. With this regression model, the predicted price of a 10-year old home with 2,500 square feet of living area is __________. $205.00 $200,000.00 $205,000.00 $255,000.00
Find the multiple regression equation with weight as the response variable and the dummy variable of sex and the variable of age as the explanatory variables.
find the equation of the least squares regression line