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Following is the data on the age and selling price of a certain mode.pdf
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Following is the data on the age and selling price of a certain mode.pdf

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Following is the data on the age and selling price of a certain model used car: Age (Yrs) Selling Price (Thousands of Dollars) X Y 9 8 7 6 12 4 8 7 7 9 11 8 12 6 6 8 __ __ 72 56 a) Compute Correlation coefficient \"r\" and coefficient of determination \"r\" and interpret coefficient of determination. b) Test Null Hypothesis: p=0 Alternative: p<0 Alpha: a=0.05 c) Find the equation of the regression line Y\'=a+bX d) For a 10 year old car of this model, set up a 90% prediction interval for the estimated selling price of this model car belonging to your grandmother. Solution Correlation coefficient \"r\"= -.559 coefficient of determination \"r= .3125 or 31.25%.

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Following is the data on the age and selling price of a certain mode.pdf

  1. Following is the data on the age and selling price of a certain model used car: Age (Yrs) Selling Price (Thousands of Dollars) X Y 9 8 7 6 12 4 8 7 7 9 11 8 12 6 6 8 __ __ 72 56 a) Compute Correlation coefficient "r" and coefficient of determination "r" and interpret coefficient of determination. b) Test Null Hypothesis: p=0 Alternative: p<0 Alpha: a=0.05 c) Find the equation of the regression line Y'=a+bX d) For a 10 year old car of this model, set up a 90% prediction interval for the estimated selling price of this model car belonging to your grandmother. Solution Correlation coefficient "r"= -.559 coefficient of determination "r= .3125 or 31.25%
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