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Ten corvettes between 1 and 6 years old were randomly selected from the classified ads of The Arizona Republic. The following data were obtained, where

Ten corvettes between 1 and 6 years old were randomly selected from the classified ads of The Arizona Republic.The following data were obtained, where x denotes age, in years, and y denotes price, in hundreds of dollars.

x

(age)

6

6

6

2

2

5

4

5

1

4

Price

($)

27000

26000

27500

40500

36400

29500

33500

30800

40500

30500

(a) Draw a scatter diagram in StatCrunch and insert a screenshot here.

(b)Find the Linear Correlation Coefficient r.

(c) Describe the shape, strength, and direction.

(d) Does a linear relationship exist between the age of a corvette and its price? (use the critical value to explain. Note: the critical value table is found below)

  1. If appropriate, explain the slope in context.
  2. If appropriate, explain the y-intercept in context.
  3. Predict the price of a one-year-old corvette.
  4. Find the Residual of a one-year-old corvette.

Table of Critical Values for the Linear Correlation Coefficient

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