The data below contains mileage, age, and selling price for a sample of 33 sedans. Price Mileage Age 16,998 35,000 3 17,599 16,000 3 15,998 42,000 3 15,998 62,000 4 11,599 102,000 7 12,998 109,000 4 14,998 60,000 5 11,599 88,000 9 12,599 58,000 8 14,998 27,000 6 15,998 32,000 3 Price Mileage Age 11,599 95,000 8 9,499 123,000 8 14,599 54,000 5 10,599 68,000 10 16,998 40,000 4 20,998 7,000 0 11,599 80,000 9 12,599 70,000 6 13,599 86,000 5 11,599 92,000 7 9,599 120,000 10 Price Mileage Age 18,998 20,000 2 12,599 63,000 7 12,599 70,000 6 10,998 88,000 10 11,998 86,000 6 13,998 60,000 6 17,599 45,000 2 9,998 95,000 11 9,998 60,000 11 16,998 36,000 2 17,599 45,000 2 (a)Develop an estimated regression equation that predicts the selling price of a used Honda Accord given the mileage and age of the car. (Round your numerical values to two decimal places. Let x1 represent mileage, x2 represent age, and y represent the selling price.) ŷ = (b) Use the F test to determine the overall significance of the relationship. Calculate the test statistic and p-value (c) Use the t test to determine the significance of the independent variable mileage. Find the value of the test statistic for ?1. (Round your answer to two decimal places.) Find the p-value for ?1. (Round your answer to four decimal places.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 1GP

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The data below contains mileage, age, and selling price for a sample of 33 sedans.

Price	Mileage	Age
16,998	35,000	3
17,599	16,000	3
15,998	42,000	3
15,998	62,000	4
11,599	102,000	7
12,998	109,000	4
14,998	60,000	5
11,599	88,000	9
12,599	58,000	8
14,998	27,000	6
15,998	32,000	3

Price	Mileage	Age
11,599	95,000	8
9,499	123,000	8
14,599	54,000	5
10,599	68,000	10
16,998	40,000	4
20,998	7,000	0
11,599	80,000	9
12,599	70,000	6
13,599	86,000	5
11,599	92,000	7
9,599	120,000	10

Price	Mileage	Age
18,998	20,000	2
12,599	63,000	7
12,599	70,000	6
10,998	88,000	10
11,998	86,000	6
13,998	60,000	6
17,599	45,000	2
9,998	95,000	11
9,998	60,000	11
16,998	36,000	2
17,599	45,000	2

(a)Develop an estimated regression equation that predicts the selling price of a used Honda Accord given the mileage and age of the car. (Round your numerical values to two decimal places. Let

x₁represent mileage, x₂represent age, and y represent the selling price.)

ŷ =

(b) Use the F test to determine the overall significance of the relationship. Calculate the test statistic and p-value

(c) Use the t test to determine the significance of the independent variable mileage. Find the value of the test statistic for ?₁. (Round your answer to two decimal places.) Find the p-value for ?₁. (Round your answer to four decimal places.)

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