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# Use the following to answer the questions below:Data were collected on the age (in years) and price ...

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A month ago
Use the following to answer the questions below:

Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.

Use three decimal places when reporting the results from any calculations, unless otherwise specified.

The regression equation is Price = 15.3 - 1.71 Age

 Predictor Coef SE Coef T P Constant 15.2912 0.5840 26.18 0.000 Age -1.7126 0.1264 -13.55 0.000
S = 1.37179        R-Sq = 88.9%        R-Sq(adj) = 88.4%

Predicted Values for New Observations

 Age Fit SE Fit 95% CI 95% PI 3 10.154 0.306 (9.520, 10.787) (7.246, 13.061)

Use the equation of the least squares line to predict the price of a used Hyundai Elantra that is 6 years old.

▸ $7,750 ▸$6,750

▸ $5,040 ▸$13,540
Textbook

## Statistics: Unlocking the Power of Data

Edition: 3rd
Authors:
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slmseuf1105slmseuf1105
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mhbtelc Author
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A month ago
 Good timing, thanks!
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 Thank you, thank you, thank you!
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2 hours ago
 Correct TY