Math, asked by milindbalija, 1 month ago

Part B
An auto manufacturing company wanted to investigate how the price of one of its car
models depreciates with age. The research department at the company took a sample of
eight cars of this model and collected the following information on the ages (in years) and
prices (in hundreds of dollars) of these cars.​

Answers

Answered by amitnrw
1

Given : An auto manufacturing company wanted to investigate how the price of one of its car models depreciates with age. The research department at the company took a sample of eight cars of this model and collected the following information on the age (in years) and prices (in hundreds of dollars) of these cars:

To Find : Draw  Scatter plot

the regression equation using utility

price of a car which is 5 years old.

Value of R²

Solution:

Age Price

x y

8 18

3 94

6 50

9 21

2 145

5 42

6 36

3 99

Insert data in excel

Add trend line ( linear)

and display equation on chart

the regression equation  is  y = -16.62x + 150.4

Value of R²  = 0.852

price of a car which is 5 years old.

=> y = y = -16.62(5) + 150.4  = 67.3

price of a car which is 5 years old is  67.3   hundred Dollars

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