Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, please help me with this exam revision question, thank u!! Agelic Piano Pte Lid wants to study the relationship between the age of a

Hi, please help me with this exam revision question, thank u!!

image text in transcribed
Agelic Piano Pte Lid wants to study the relationship between the age of a piano (X) and its selling price (Y). Listed below is a random sample of 5 used piano sold by the companies recently: Age in Selling Price in No Years (X) $000 (Y 1 9 8.1 2 7 6.0 3 11 3.6 4 12 4.0 5 8 5.0 a) Determine the linear regression equation. (10 marks) b) i. If a piano is TEN (10) years old, how much is the selling price? (3 marks) ii. If a piano is TWO (2) years old, how much is the selling price? (2 marks) c) i. Determine the correlation coefficient (3 marks) ii. Interpret the result. (2 marks)

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

College Algebra And Trigonometry A Unit Circle Approach,

Authors: Mark Dugopolski

5th Edition

0321908252, 9780321908254

More Books

Students also viewed these Mathematics questions

Question

What is the advantage to a gymnast of being short in stature?

Answered: 1 week ago

Question

What approach(es) to psychotherapy do you prefer?

Answered: 1 week ago

Question

1. Too understand personal motivation.

Answered: 1 week ago