Regression

Regression

The table gives the retail value of a 2004 Corvette Z06 and the miles driven. (Source: Kelly Blue Book website, November 3, 2004)

Mileage Retail Value

13,000 $46,100

18,000 $44,600

20,000 $43,300

25,000 $41,975

29,000 $40,975

32,000 $39,750

1. Find the correlation coefficient for the data.

2. What is the significance of this value of the correlation coefficient?

3. What is the least-squares regression line for the data?

4. Use the least-squares line to predict the retail value of the model car with a mileage of 30,000.

5. Use the least-squares line to predict the retail value of the model car with 30,000 miles.

6. What is the retail value of a model car with 35,000 miles?

Assignment 2

The table gives the retail value of a 2004 Corvette Z06 and the miles driven. (Source: Kelly Blue Book website, November 3, 2004)

1. Find the correlation coefficient for the data.

2. What is the significance of this value of the correlation coefficient?

3. What is the least-squares regression line for the data?

4. Use the least-squares line to predict the retail value of the model car with a mileage of 30,000.