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Q5) The cost of a previously owned car depends upon factors such as make and model, model year, mileage, condition, and whether the car is purchased from a dealer or from a private seller. To investigate the relationship between the car's mileage and the sales price, data (find below) were collected on the mileage and the sale price for some private sales of the model year 2010 Honda Accords: Miles (1000s): 66, 87, 90, 106, 94, 57 and Price ($1000s): 7.0, 7.2, 7.0, 5.4, 6.4, 7.0 a) Write the name of the dependent variable and the independent variable. b) Develop the estimated regression equation based on the above sample data. c) Provide an interpretation for the intercept and slope of the estimated regression equation. d) Predict the sales price for a 2010 Honda Accord with 80,000 miles.

Q5) The cost of a previously owned car depends upon factors such as make and model, model year, mileage, condition, and whether the car is purchased from a dealer or from a private seller. To investigate the relationship between the car's mileage and the sales price, data (find below) were collected on the mileage and the sale price for some private sales of the model year 2010 Honda Accords: Miles (1000s): 66, 87, 90, 106, 94, 57 and Price ($1000s): 7.0, 7.2, 7.0, 5.4, 6.4, 7.0 a) Write the name of the dependent variable and the independent variable. b) Develop the estimated regression equation based on the above sample data. c) Provide an interpretation for the intercept and slope of the estimated regression equation. d) Predict the sales price for a 2010 Honda Accord with 80,000 miles.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 28PPS
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Q5) The cost of a previously owned car depends upon factors such as make and model, model year, mileage, condition, and whether the car is purchased from a dealer or from a private seller. To investigate the relationship between the car's mileage and the sales price, data (find below) were collected on the mileage and the sale price for some private sales of the model year 2010 Honda Accords: Miles (1000s): 66, 87, 90, 106, 94, 57 and Price ($1000s): 7.0, 7.2, 7.0, 5.4, 6.4, 7.0 a) Write the name of the dependent variable and the independent variable. b) Develop the estimated regression equation based on the above sample data. c) Provide an interpretation for the intercept and slope of the estimated regression equation. d) Predict the sales price for a 2010 Honda Accord with 80,000 miles.
Transcribed Image Text:Q5) The cost of a previously owned car depends upon factors such as make and model, model year, mileage, condition, and whether the car is purchased from a dealer or from a private seller. To investigate the relationship between the car's mileage and the sales price, data (find below) were collected on the mileage and the sale price for some private sales of the model year 2010 Honda Accords: Miles (1000s): 66, 87, 90, 106, 94, 57 and Price ($1000s): 7.0, 7.2, 7.0, 5.4, 6.4, 7.0 a) Write the name of the dependent variable and the independent variable. b) Develop the estimated regression equation based on the above sample data. c) Provide an interpretation for the intercept and slope of the estimated regression equation. d) Predict the sales price for a 2010 Honda Accord with 80,000 miles.
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