and the value of a car (asa 16. The ordered pairs below relate the age of a car,
ID: 3059111 • Letter: A
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and the value of a car (asa 16. The ordered pairs below relate the age of a car, x, percent of its original value), y (4,42), (5, 34), (B,53), (6, 25), (4, 41), (1, 76) and (2, 65) Do the steps on the calculator to find y = ax + b, a, b, r2 and r. a. Calculate the correlation coefficient and interpret the sign. Assuming a linear model is appropriate. Find the least squares regression line and use it to find the sum of squared residuals. b. What can you say about the sum of squared residuals for any other line besides the least squares regression line? c. Using the least squares regression line you found in part b, predict the value of a 7 year old car that was $30,000 brand new. d. Interpret the slope of the least squares regression line. e.Explanation / Answer
and the value of a car (asa 16. The ordered pairs below relate the age of a car, x, percent of its original value), y (4,42), (5, 34), (B,53), (6, 25), (4, 41), (1, 76) and (2, 65) Do the steps on the calculator to find y = ax + b, a, b, r2 and r. a. Calculate the correlation coefficient and interpret the sign. Assuming a linear model is appropriate. Find the least squares regression line and use it to find the sum of squared residuals. b. What can you say about the sum of squared residuals for any other line besides the least squares regression line? c. Using the least squares regression line you found in part b, predict the value of a 7 year old car that was $30,000 brand new. d. Interpret the slope of the least squares regression line. e.
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