02 May A Used Car Dealer Wants To Develop A Regression Equation That Determines Mileage As A Function Of The Age Of A Car …
A used car dealer wants to develop a regression equation that determines mileage as a function of the age of a car in years. He collects the data shown below for the 12 cars he has on his lot Age Mileage 14 144310 8 77771 5 54031 13 127346 5 43492 14 141594 14 149135 15 145310 10 113424 6 64970 11 99453 12 119184 1)What is the slope of the regression equation? Give your answer to two decimal places. 2)What is the value of the correlation coefficient? Give your answer to two decimal places. 3)A 4 year old car is delivered to his lot with 160000 miles. Manually enter these values in the data table above and rerun the regression analysis. What is the value of the slope? Give your answer to two decimal places. 4)Including the additional car, what is the value of the correlation coefficient? Give your answer to two decimal places
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