6) 2000 1800 1600 1400 A 1200 1000 800 600 400 2 46 8 10 12 14 16 18 20 . The sc

Question

6) 2000 1800 1600 1400 A 1200 1000 800 600 400 2 46 8 10 12 14 16 18 20 . The scatterplot above shows the prices of refrigerators ) versus the life expectancy of the refrigerators in years (x) for a random sample of refrigerators. A calculator displays the following linear regression equation information y a +bx a _ 296.0707269 b 111.836935 r'= 0.90949401875 What is the correlation coefficient based on this data? What is the meaning of the correlation coefficient? (a) (b) What is the slope of the regression line and its meaning in the context of this problem? (e) Based on this model calculate the price of a refrigerator whose life expectancy is 25 years. (d) If we added to the scatterplot above a 21-year-old refrigerator with a price of $800, explain what change would occur, if any, to the slopfe of the regression line?

Explanation / Answer

a) r = sqrt ( 0.90949401875)

= 0.9537

strong positive linear relationship between years and price

b)

Slope = 111. 836935

A unit change in the year increass cost 112 more

c)

y = -296.0707296 + 111.836935 (25)

y = 2499.852648

d) slope would decrease because it is a influential point.

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