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Consider the following data set that contains information about a sample of ten 2015 Subaru Outback offered for sale. Vehicle Condition Color Mileage (x1000miles) Price

Consider the following data set that contains information about a sample of ten 2015 Subaru Outback offered for sale.

Vehicle Condition Color Mileage (x1000miles) Price (x$1000)
1 poor red 10 30
2 excellent black 12 29
3 poor green 16 28
4 poor white 20 27
5 poor white 37 26
6 average green 44 24
7 average red 48 23
8 good green 62 22
9 good blue 63 21
10 poor green 69 20

The scatter plot that summarizes the data with regard to mileage as the input variable and price as theoutput variable is provided below.101112131415161718192021222324252627282930313233343536373839404142434445464748495051525354555657585960616263646566676869702021222324252627282930Mileage, [x1000 miles]Price, [x$1000]

a. Is there an association between the two variables? If yes, is it positive or negative?

There appears to be Select an answer a negative association a positive association no association between the two variables.

b. Use technology to find the equation of the line of best fit, y=mx+by=mx+b, the correlation, and interpret the slope, the vertical intercept, and correlation. (Round the answers to 3 decimal places.)

i. m=m= Select an answer miles/$ miles $ $/mile is the Select an answer price of a used car price of a new car appreciation rate depreciation rate ;

ii. b=b= Select an answer miles $/mile miles/$ $1000 is the Select an answer depreciation rate appreciation rate price of a used car price of a new car ;

iii.r=r= hence there is a Select an answer weak no strong linear relation.

c. Use the line of best fit to:

i. estimate the price of a car with 64500 miles.

Answer: dollars (Round the answer to the nearest unit.)

ii. estimate the mileage of a car whose price is 28500 dollars.

Answer: miles (Round the answer to the nearest unit.)

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