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Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Vehicle Estimated Cost $ 5,555 $17,888 $ 9,963 $ 6,793 $10.774 $16,310 $ 2.475 s 2 $ 2,808 *,073 $ 8,978 $11,213 $ 9,463 $15,055 $20,705 Age Honda Insight Toyota Prius Toyota Prius Toyota Echo Honda Civic Hybrid Honda Civic Hybrid Chevrolet Cruz 8 3 Mazda3 Toyota Corolla Acura 10 Acura Integra Scion xB Scion xA 3 Mazda3 2 Mini Cooper 2 a. Create a scatter plot of the data. 1. On the graph below, use the point tool to plot the point corresponding to the first Age and its Estimated Cost (Age 1). 2. Repeat the process for the remainder of the sample (Age 2, Age 3, .. ). 3. To enter exact coordinates, double-click on the point and enter the exact coordinates of x and y. Emily Smith Age 1 25000- Age 2 20000 - Age 3 15000 - Age 4 10000 - Age 5 5000 - Age 6 0 - 2 3 4 10 Age 7 Age b-1. Calculate the correlation coefficient. (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) Coefficient of correlation b-2. What does it indicate about the relationship between cost and age? There is a v relationship between cost and age. strong inverse week inverse c-1. Complete a regression analysis of the relationship. (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Slope c-2. Report and interpret the coefficient of determination. (Round your answer to 2 decimal places.) Coefficient of determination % d. Compute the regression equation that predicts cost. (Round your answers to 4 decimal places.) Estimated Cost

Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Vehicle Estimated Cost $ 5,555 $17,888 $ 9,963 $ 6,793 $10.774 $16,310 $ 2.475 s 2 $ 2,808 *,073 $ 8,978 $11,213 $ 9,463 $15,055 $20,705 Age Honda Insight Toyota Prius Toyota Prius Toyota Echo Honda Civic Hybrid Honda Civic Hybrid Chevrolet Cruz 8 3 Mazda3 Toyota Corolla Acura 10 Acura Integra Scion xB Scion xA 3 Mazda3 2 Mini Cooper 2 a. Create a scatter plot of the data. 1. On the graph below, use the point tool to plot the point corresponding to the first Age and its Estimated Cost (Age 1). 2. Repeat the process for the remainder of the sample (Age 2, Age 3, .. ). 3. To enter exact coordinates, double-click on the point and enter the exact coordinates of x and y. Emily Smith Age 1 25000- Age 2 20000 - Age 3 15000 - Age 4 10000 - Age 5 5000 - Age 6 0 - 2 3 4 10 Age 7 Age b-1. Calculate the correlation coefficient. (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) Coefficient of correlation b-2. What does it indicate about the relationship between cost and age? There is a v relationship between cost and age. strong inverse week inverse c-1. Complete a regression analysis of the relationship. (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Slope c-2. Report and interpret the coefficient of determination. (Round your answer to 2 decimal places.) Coefficient of determination % d. Compute the regression equation that predicts cost. (Round your answers to 4 decimal places.) Estimated Cost

Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.3: Rules For Addition
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Please provide step-by-step answers for the questions below a., b-1., b-2., c-1., c-2., d., e., f. with Excel formulas/Excel Data Analysis, math formulas, and also Minitab instructions if possible. Please provide also answers rounded to decimal places like asked in the questions.

 

Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle.

 

$ 6,793 Mazda3 Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Vehicle Honda Insight Toyota Prius Toyota Prius Estimated Cost Age $ 5,555 8 $17,888 $ 9,963 Toyota Echo Honda Civic Hybrid Honda Civic Hybrid $10,774 $16,310 s 2 $ 2,475 Chevrolet Cruz * 2,808 S 7,073 $ 8,978 10 Toyota Corolla Acura Integra Scion xB $11,213 $ 9,463 $15,055 $20,705 Scion xA 3 Mazda3 2 Mini Cooper 2 a. Create a scatter plot of the data. 1. On the graph below, use the point tool to plot the point corresponding to the first Age and its Estimated Cost (Age 1). 2. Repeat the process for the remainder of the sample (Age 2, Age 3, ... ). 3. To enter exact coordinates, double-click on the point and enter the exact coordinates of x and y. Emily Smith Age 1 25000 - Age 2 20000 - Age 3 15000 - Age 4 10000 - Age 5 5000 - Age 6 1 2 3 5 6 7 8 9 10 Age 7 Age b-1. Calculate the correlation coefficient. (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) Coefficient of correlation b-2. What does it indicate about the relationship between cost and age? There is a relationship between cost and age. strong inverse week inverse c-1. Complete a regression analysis of the relationship. (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Slope c-2. Report and interpret the coefficient of determination. (Round your answer to 2 decimal places.) Coefficient of determination % d. Compute the regression equation that predicts cost. (Round your answers to 4 decimal places.) ý = e. Is the slope of the regression line significantly different from zero? O Yes O No f. Estimate the cost of a 5-year-old car. (Round your answer to the nearest whole dollar amount.) Predicted cost Estimated Cost
Transcribed Image Text:$ 6,793 Mazda3 Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Vehicle Honda Insight Toyota Prius Toyota Prius Estimated Cost Age $ 5,555 8 $17,888 $ 9,963 Toyota Echo Honda Civic Hybrid Honda Civic Hybrid $10,774 $16,310 s 2 $ 2,475 Chevrolet Cruz * 2,808 S 7,073 $ 8,978 10 Toyota Corolla Acura Integra Scion xB $11,213 $ 9,463 $15,055 $20,705 Scion xA 3 Mazda3 2 Mini Cooper 2 a. Create a scatter plot of the data. 1. On the graph below, use the point tool to plot the point corresponding to the first Age and its Estimated Cost (Age 1). 2. Repeat the process for the remainder of the sample (Age 2, Age 3, ... ). 3. To enter exact coordinates, double-click on the point and enter the exact coordinates of x and y. Emily Smith Age 1 25000 - Age 2 20000 - Age 3 15000 - Age 4 10000 - Age 5 5000 - Age 6 1 2 3 5 6 7 8 9 10 Age 7 Age b-1. Calculate the correlation coefficient. (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) Coefficient of correlation b-2. What does it indicate about the relationship between cost and age? There is a relationship between cost and age. strong inverse week inverse c-1. Complete a regression analysis of the relationship. (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Slope c-2. Report and interpret the coefficient of determination. (Round your answer to 2 decimal places.) Coefficient of determination % d. Compute the regression equation that predicts cost. (Round your answers to 4 decimal places.) ý = e. Is the slope of the regression line significantly different from zero? O Yes O No f. Estimate the cost of a 5-year-old car. (Round your answer to the nearest whole dollar amount.) Predicted cost Estimated Cost
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