Question
Performing simple regression analysis with the the age of a car (in years) as the independent variable and the resale value of the car (in
Performing simple regression analysis with the the age of a car (in years) as the independent variable and the resale value of the car (in $)as the dependent variable, you come up with the following values...
r = -0.29
y = 12,547 - 426x
Which would be the correct interpretation of the correlation coefficient?
Question 4 options:
A | Each additional year in a vehicle's age leads to a decrease of $426 in its resale value. |
B | There is a strong, positive linear relationship between a vehicle's age and its resale value. |
C | There is a weak, positive linear relationship between a vehicle's age and its resale value. |
D | There is a weak,negative linear relationship between a vehicle's age and its resale value. |
E | Each additional year in a vehicle's age leads to a decrease of $12,547 in its resale value. |
F | There is a strong, negative linear relationship between a vehicle's age and its resale value. |
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