Question

# The owner of Maumee Motors wants to study the relationship between the age of a car...

The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors last year:

 Car Age (years) Selling Price (\$000) 1 7 4.5 2 8 7.7 3 6 9.4 4 2 7.2 5 4 4.7 6 11 4 7 15 6.2 8 14 7.7 9 7 9.9 10 10 6.6 11 9 6.4 12 11 7.6

Determine the standard error of estimate. (Round the final answer to 3 decimal places.)

Standard error of estimate

#### Homework Answers

Answer #1

The statistical software output for this problem is:

Hence,

Standard error of estimate = 1.915

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