Cars.com would like to use simple linear regression to predict the selling price of a used car, in thousands of dollars, based on the age of the car in years. A random sample of used cars was selected and the result of the regression analysis is shown below. SUMMARY OUTPUT Regression Statistics Multiple R 0.7885 R Square Adjusted R Square 0.6217 0.5461 Standard Error 1.4528 Observations ANOVA df S MS Significance F Regression 1 17.3464 17.3464 8.2182 0.0351 Residual 5 10.5536 2.1107 Total 6. 27.9 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 11.6881 1.2403 9.4237 0.0002 8.4999 14.8764 Age -0.5072 0.1769 -2.8667 0.0351 -0.9620 -0.0524 Use the given information and select the fitted model for the relationship between age and price of used cars.

Cars.com would like to use simple linear regression to predict the selling price of a used car, in thousands of dollars, based on the age of the car in years. A random sample of used cars was selected and the result of the regression analysis is shown below. SUMMARY OUTPUT Regression Statistics Multiple R 0.7885 R Square Adjusted R Square 0.6217 0.5461 Standard Error 1.4528 Observations ANOVA df S MS Significance F Regression 1 17.3464 17.3464 8.2182 0.0351 Residual 5 10.5536 2.1107 Total 6. 27.9 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 11.6881 1.2403 9.4237 0.0002 8.4999 14.8764 Age -0.5072 0.1769 -2.8667 0.0351 -0.9620 -0.0524 Use the given information and select the fitted model for the relationship between age and price of used cars.

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter3: Polynomial Functions

Section3.5: Mathematical Modeling And Variation

Problem 2ECP

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