Question
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)
- If appropriate, explain the slope in context.
- If appropriate, explain the y-intercept in context.
- Predict the price of a one-year-old corvette.
- Find the Residual of a one-year-old corvette.
Table of Critical Values for the Linear Correlation Coefficient
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