A university graduate Data are gathered on each car in the motor pool, regarding number of miles driven in a given year, and maintenance costs for that year. Here is a sample of the data collected. Number Miles Driven (X) Repair Costs (Y) 80,000 $1,200 29,000 $152 53,000 $650 13,000 $200 45,000 $475 7,000 $328 16,000 $185 32,000 $300 47,000 $468 52,000 $574 38,000 $321 17,000 $184 92,000 $977 4,200 $38 24,000 $195 Compute the correlation coefficient. 0.92 What does this statistic mean concerning the relationship between miles driven and repair costs? Since our correlation coefficient is close to 1 that means there is a strong correlation between miles driven and repair cost. What percent of the variability is accounted for by the relationship between the two variables? 85% variability What would be the slope and y-intercept for a regression line based on these data? slope= 0.041 y-intercept=-2.66 What would be the anticipated repair costs if the person drove 39,000 miles? 87,000 miles? 5480 miles? wants to know if there is a correlation between GRE verbal scores (range 130 - 170) and GPA (note that anything below a 3.00 is considered failing in graduate school; a C is not a