The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of fifteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x (in thousands of miles), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. These data are shown graphically in the scatter plot in Figure 1. Used selling price, Mileage, x (in thousands) (in thousands of dollars) 24.1 29.9 34.5 26.4 404 40+ 20.9 31.2 26.9 31.2 35 29.2 26.9 24.3 27.0 30+ 28.0 26.0 23.2 30.7 23.4 25 28.4 15.3 34.4 25.5 27.2 20 23.4 33.4 28.0 29.5 20.6 32.0 Figure 1 37.9 23.0 Send data to Excel The value of the sample correlation coefficient r for these data is approximately -0.831. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below.
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of fifteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x (in thousands of miles), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold used. These data are shown graphically in the scatter plot in Figure 1. Used selling price, Mileage, x (in thousands) (in thousands of dollars) 24.1 29.9 34.5 26.4 404 40+ 20.9 31.2 26.9 31.2 35 29.2 26.9 24.3 27.0 30+ 28.0 26.0 23.2 30.7 23.4 25 28.4 15.3 34.4 25.5 27.2 20 23.4 33.4 28.0 29.5 20.6 32.0 Figure 1 37.9 23.0 Send data to Excel The value of the sample correlation coefficient r for these data is approximately -0.831. Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below.
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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Correlation
Correlation defines a relationship between two independent variables. It 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.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question
Transcribed Image Text:Nejua
The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of
fifteen Cadets, each bought "new" two years ago and each sold "used" within the past month. For each Cadet in the sample, we have listed both the mileage, x
(in thousands of miles), that the Cadet had on its odometer at the time it was sold used, and the price, y (in thousands of dollars), at which the Cadet was sold
used. These data are shown graphically in the scatter plot in Figure 1.
Used selling price,
Mileage, x
(in thousands)
y
(in thousands of
dollars)
24.1
29.9
34.5
26.4
40+
20.9
31.2
26.9
31.2
35+
29.2
26.9
24.3
27.0
30+
28.0
26.0
23.2
30.7
23.4
28.4
25-
15.3
34.4
25.5
27.2
23.4
33.4
28.0
29.5
15
20
25
30
35
20.6
32.0
Figure 1
37.9
23.0
Send data to Excel
The value of the sample correlation coefficient r for these data is approximately -0.831.
Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below.
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Transcribed Image Text:Send data to Excel
The value of the sample correlation coefficient r for these data is approximately-0.831.
Answer the following. Carry your intermediate computations to at least four decimal places, and round your answers as specified below.
What is the value of the slope of the least-squares regression
line for these data? Round your answer to at least two decimal
places.
What is the value of the y-intercept of the least-squares
regression line for these data? Round your answer to at least
two decimal places.
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