The Cadet is a popular model of sport utility vehicle, known for its relatively high resale value. The bivariate data given below were taken from a sample of fifteen Cadets, each bought new two years ago, and each sold used within the past month. For each Cadet in the sample, we have listed both the mileage x (in thousands of miles) that the Cadet had on its odometer at the time it was sold used and the price y (in thousands of dollars) at which the Cadet was sold used. With the aim of predicting the used selling price from the number of miles driven, we might examine the least-squares regression line, y = 41.50-0.48x. This line is shown in the scatter plot in Figure 1. Used selling price, Mileage, x (in thousands of dollars) (in thousands) 34.0 25.7 40+ 23.4 33.8 28.0 26.2 354 37.4 24.0 30.8 304 23.2 31.2 24.0 28.5 254 20.7 31.1 15.3 34.3 25.6 26.9 27.9 29.8 46 24.2 27.4 20.7 30.5 Figure 1 26.7 30.0 29.4 27.8 Using the above information, answer the following: www-awn.aleks.com/alekscgi/x/Isl.exe/1o_u-lgNslkr7j8P3jH-IBGBIH_OB3uhhqwxlXoS5SIQhuX6YjFjUgDERvhXH9relMzlvw23_Pp32u8lfsHP_jUm65AJtEEbAJNv_rSkUZovRdkKoq?loBw/UYjlbavbSPXbx-YCjsh_/mMmrq#it O CORRELATION AND SIMPLE LINEAR REGRESSION Predictions from the least-squares regression line Emmanuel V V25.6 26.9 20 27.9 29.8 24.2 27.4 15 20 25 30 35 20.7 30.5 Figure 1 26.7 30.0 29.4 27.8 Using the above information, answer the following: An 1. Fill in the blank: For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that the mean of the used selling prices. Choose one are 2. Fill in the blank: According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding price. Choose one v of 0.48 thousand dollars in the used selling 3. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 37.1 thousand miles? (Round your answer to at least one decimal place.) 4. From the regression equation, what is the predicted used selling price (in thousands of dollars) when the mileage is 27.9 thousand miles? (Round your answer to at least one decimal place.) Explanation Check 2020 McGraw-Hill Education. All Rights Reserved. Terms of Use I Privacy Accessibility ) 1. Type here to search a