The following data represent the price of a random sample of used Chevy Camaros by age. (a)
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The following data represent the price of a random sample of used Chevy Camaros by age.
(b) A normal probability plot of the residuals indicates that the residuals are approximately normally distributed. Test whether a linear relation exists between age and price at the a = 0.05 level of significance.
(c) Plot the residuals against the explanatory variable, age.
(d) Does a linear model seem appropriate based on the scatter diagram and residual plot?
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Related Book For
Statistics Informed Decisions Using Data
ISBN: 9780134133539
5th Edition
Authors: Michael Sullivan III
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