Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A linear model to predict the price of a certain car (in $) from its mileage (in miles) was fit to 18 cars that were

image text in transcribed
A linear model to predict the price of a certain car (in $) from its mileage (in miles) was fit to 18 cars that were available during a certain week within 200 miles of a certain city. The model was Price = 21,380.92 - 0.11087 Mileage. The 18 cars had an average Price of $19,868.99 (SD = $1928.63), and the correlation between Price and Mileage was - 0.882. If the Mileage of a car was 2 SD above the average number of miles, what Price would you predict for it? The predicted Price would be $ (Round to the nearest cent as needed.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finite Math And Applied Calculus

Authors: Stefan Waner, Steven Costenoble

7th Edition

1337515566, 9781337515566

More Books

Students also viewed these Mathematics questions