correlation between new price and depreciation Chapter 3, Section 3, Exercise 09

Question

correlation between new price and depreciation Chapter 3, Section 3, Exercise 094 Your answer is partially correct. Try again. Correlation between Price and Depreciation in Automobiles The data in CarDepreciation contains information on both New price and Depreciation for a sample of 20 automobile models. Click here for the dataset associated with this question. Click here to access Statkey. (a) Find the correlation between New price and Depreciation from the original sample of 20 automobiles. Round your answer to three decimal places. r0.125 (b) Use Statkey or other technology to create a bootstrap distribution of correlations and report the standard error. Round your answer to two decimal places. 883 Standard error- (c) Using the standard error, create a 95% confidence interval for the correlation between New price and Depreciation of automobile models. Round your answers to two decimal places. The interval is to 4405

Explanation / Answer

From the given data containing 20 observations on New , Old, Depriciation the correlation coefficient between New and Depriciation comes out as r = 0.2772062

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