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

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Use the following to answer the questions below:

Data were collected on the age (in years), mileage (in thousands of miles), and price (in thousands of dollars) of a random sample of used Hyundai Elantras. Output from two models are provided.

Single Predictor Model:
The regression equation is Price = 13.8 - 0.0912 Mileage

 Predictor Coef SE Coef T P Constant 13.7751 0.6930 19.88 0.000 Mileage -0.091167 0.009718 -9.38 0.000

Two Predictor Model:
The regression equation is Price = 15.2 - 0.0101 Mileage - 1.55 Age

 Predictor Coef SE Coef T P Constant 15.2174 0.6112 24.90 0.000 Mileage -0.01005 0.01977 -0.51 0.616 Age -1.5466 0.3508 -4.41 0.000

S = 1.39445       R-Sq = 89.0%        R-Sq(adj) = 88.0%

Analysis of Variance

 Source DF SS MS F P Regression 2 346.11 173.06 89.00 0.000 Residual Error 22 42.78 1.94 ​ ​ Total 24 388.89 ​ ​ ​

One of the cars in the sample was a 5-year-old Hyundai Elantra with 87,100 miles being sold for \$6,000. What is the predicted price of this car using the single predictor model? Round to three decimal places.
Textbook

## Statistics: Unlocking the Power of Data

Edition: 3rd
Authors:
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sbbaltsbbalt
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