Jto Excel Using the above information, answer the following: 1. Fill in the blan
ID: 3052047 • Letter: J
Question
Jto Excel Using the above information, answer the following: 1. Fill in the blank: For these data, used selling prices that are less than the mean of the used selling prices tend to be paired with mileages that are the mean of the mileages Choose one 2. According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price? 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 24.4 thousand miles? (Round your answer to at least one decimal place.) 4. What was the observed used selling price (in thousands of dollars) when the mieage was 2 a thousad irtes of dolars) Clear Undo HelExplanation / Answer
sol:
The given regression eq is
selling price=41.98-0.50(mileage)
From scatterplot we obsevve negative Relationship
r =-ve value
that is if selling price is less milleage will be more.
Solution1b:
slope of regression line=-0.5
change in Selling price /change in mileage=-0.5
Fro unit incraese in milegae predicted selling price decraeses by 0.5dollars
Answer:0.5
Solution1c:
selling price=41.98-0.50(mileage)
given mileage=24.4
selling price=41.98-0.50(24.4)
=29.78
=29.8
predicted selling price=29.8(to one decimal)
Solution1d:
observed selling price whenmileage =24.4 is 28.2
ANSWER:28.2
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