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trixr4kids trixr4kids
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Use the following to answer the questions below:

Data were collected on the mileage (in thousands of miles) and price (in thousands of dollars) of a random sample of used Hyundai Elantras. A scatterplot of the data (with regression line), some summary statistics, and partial computer output from a regression analysis are provided.

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

VariableMeanStDevMinimumMaximum
Price8.3044.0251.90015.900
Mileage60.0139.310.90138.20
The regression equation is Price = 13.8 - 0.0912 Mileage

Source DFSSMSFP
Regression1308.32308.3288.010.000
Residual Error2380.573.50
Total24388.89

A scatterplot with a regression line shows the relationship between Mileage and Price. The horizontal axis is labeled, Mileage and ranges from 0 to 140 in increments of 20. The vertical axis is labeled, Price and ranges from 0 to 16 in increments of 2. A regression line starts from (0, 13.8), decreases toward the right, and ends at (139.8, 1). The dots are randomly scattered, 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 dots are plotted between the points, 0 to 140 on the horizontal axis and between the points, 2 to 16 on the vertical axis. The concentration of the dots is more between the points 0 and 90 on the horizontal axis and between the points, 3 and 13 on the vertical axis. Three outliers are at the point, (0, 16), (2, 15), (3, 14.8). All values are approximate.


Use the provided output to compute R2.

▸ 0.793

▸ 0.736

▸ 0.672

▸ 0.891
Textbook 
Statistics: Unlocking the Power of Data

Statistics: Unlocking the Power of Data


Edition: 3rd
Authors:
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pedro0811pedro0811
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