Top Posters
Since Sunday
5
k
4
c
4
M
3
t
3
i
3
B
3
k
3
m
3
c
3
o
3
l
3
New Topic  
lollie614 lollie614
wrote...
Posts: 125
Rep: 0 0
3 weeks 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

PredictorCoefSE CoefTP
Constant15.29120.584026.180.000
Age-1.71260.1264-13.550.000
S = 1.37179        R-Sq = 88.9%        R-Sq(adj) = 88.4%

Predicted Values for New Observations

AgeFitSE Fit95% CI95% PI
310.1540.306(9.520, 10.787)(7.246, 13.061)

A scatterplot with a regression line shows the relationship between Age and Price. The horizontal axis is labeled, Age and ranges from 0 to 9 in increments of 1. The vertical axis is labeled, Price and ranges from 0 to 16 in increments of 2. A regression line starts from (0, 15.5), decreases toward the right, and ends at (8, 2). The dots are vertically plotted, such that a few dots lie above the regression line, a few dots lie below the regression line, and a few dots lie on the regression line. The concentration of the dots is more between the points 2 and 6 on the horizontal axis and between the points, 4 and 12 on the vertical axis. The dots are plotted as follows: (0, 15.5), (1, 15), (1, 16), (2, 9.75), (2, 10), (2, 12), (2, 13), (3, 9), (3, 11), (3, 12), (4, 7), (4, 7.5), (4, 8.25), (4, 8.5), (4, 9), (5, 4), (5, 6), (5, 8), (6, 4), (6, 6), (6, 7), (7, 3.5), (7, 3.75), (8, 2), and (8, 3.5). All values are approximate.


What is the R2 for this model? Interpret it in context.
Textbook 
Statistics: Unlocking the Power of Data

Statistics: Unlocking the Power of Data


Edition: 3rd
Authors:
Read 10 times
1 Reply
Replies
Answer verified by a subject expert
rick32rick32
wrote...
Posts: 145
Rep: 0 0
3 weeks ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

lollie614 Author
wrote...

3 weeks ago
You make an excellent tutor!
wrote...

Yesterday
Thanks
wrote...

2 hours ago
This helped my grade so much Perfect
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  814 People Browsing
Related Images
  
 1601
  
 365
  
 235
Your Opinion
Who's your favorite biologist?
Votes: 587