Question
In a study of 2000 model cars, a researcher computed the least-squares regression line of price (in collars) on horsepower. He obtained the following equation
In a study of 2000 model cars, a researcher computed the least-squares regression line of price (in collars) on horsepower. He obtained the following equation of this regression line.
Price = -7000 + 170 horsepower
Based on the least-squares regression line, what would we predict the cost of a 2000 model car with horsepower equal to 230 to be (assuming no extrapolation error)? Show your work for full credit.
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
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