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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!!
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
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