Question
Following are age and price data for 10 randomly selected cars between 1 and 6 years...
Following are age and price data for 10 randomly selected cars between 1 and 6 years old. Here, x denotes age, in years, and y denotes price, in hundreds of dollars. Use the information to complete parts (a) through (g).
|
x |
6 |
6 |
6 |
2 |
2 |
5 |
4 |
5 |
1 |
4 |
|
|---|---|---|---|---|---|---|---|---|---|---|---|
|
y |
290 |
290 |
285 |
420 |
394 |
315 |
355 |
333 |
425 |
335 |
a. Find the regression equation for the data points.
Homework Answers
Answer #1
The table given below,
| X | Y | X^2 | XY | |
| 6 | 290 | 36 | 1740 | |
| 6 | 290 | 36 | 1740 | |
| 6 | 285 | 36 | 1710 | |
| 2 | 420 | 4 | 840 | |
| 2 | 394 | 4 | 788 | |
| 5 | 315 | 25 | 1575 | |
| 4 | 355 | 16 | 1420 | |
| 5 | 333 | 25 | 1665 | |
| 1 | 425 | 1 | 425 | |
| 4 | 335 | 16 | 1340 | |
| Total | 41 | 3442 | 199 | 13243 |
From table ,
The coefficient of regression line is ,
The intercept of the regression line is ,
Therefore , the regression equation is ,
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