The age and prices of 11 Nissan cars given in the following data: Age (in years) 5 4 6 5 5 5 6 6 2 7 7 Price (in $100s) 85 103 70 82 89 98 66 95 169 70 48 a. Obtain the correlation coefficient between the age and price of the cars. Interpret the value of the correlation coefficient. b. Obtain a regression equation of Price (dependent variable) on Age (Independent variable). c. What will be the Price of the car after 3 years? d. Find the coefficient of determination. Determine the percent of variation that is explained by the regression equation clearly.

The age and prices of 11 Nissan cars given in the following data: Age (in years) 5 4 6 5 5 5 6 6 2 7 7 Price (in $100s) 85 103 70 82 89 98 66 95 169 70 48 a. Obtain the correlation coefficient between the age and price of the cars. Interpret the value of the correlation coefficient. b. Obtain a regression equation of Price (dependent variable) on Age (Independent variable). c. What will be the Price of the car after 3 years? d. Find the coefficient of determination. Determine the percent of variation that is explained by the regression equation clearly.

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 2AGP

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Question

The age and prices of 11 Nissan cars given in the following data:

Age (in years)	5	4	6	5	5	5	6	6	2	7	7
Price (in $100s)	85	103	70	82	89	98	66	95	169	70	48

a. Obtain the correlation coefficient between the age and price of the cars. Interpret the value of the correlation coefficient.

b. Obtain a regression equation of Price (dependent variable) on Age (Independent variable).

c. What will be the Price of the car after 3 years?

d. Find the coefficient of determination. Determine the percent of variation that is explained by the regression equation clearly.

Definition Definition Relationship between two independent variables. A correlation tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

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