The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year Selling Price ($ thousands) $6.2 9.4 Selling Price (5 thousands) Car Age (years) Car Age (years) $9.4 6.5 6. 6.9 14 4.5 6.5 6.0 10 9,4 11 11 4.6 3.9 7.9 12 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) b. Determine the coefficient of determination. (Round the final answer to 3 decimel pleces.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the seling price is
The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year Selling Price ($ thousands) $6.2 9.4 Selling Price (5 thousands) Car Age (years) Car Age (years) $9.4 6.5 6. 6.9 14 4.5 6.5 6.0 10 9,4 11 11 4.6 3.9 7.9 12 a. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal places.) b. Determine the coefficient of determination. (Round the final answer to 3 decimel pleces.) c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest whole number.) Weak negative (inverse) correlation between age of car and selling price. So, explained by the variation in the age of the car. percent of the variation in the seling price is
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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Question
Transcribed Image Text:The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random
sample of 12 used cars sold at Maumee Motors during the last year
Selling Price (S
thousands)
$6.2
9.4
Selling Price (S
thousands)
Car Age (years)
Car Age (years)
2.
6.
$9.4
6.9
6.0
7.
14
6.5
4.5
10
1
6.5
4.6
3.9
12
9,4
7.9
11
11
12
es
o. Determine the correlation coefficient. (Negative answer should be indicated by a minus sign. Round the final answer to 3 decimal
places.)
b. Determine the coefficient of determination. (Round the final answer to 3 decimal pleces.)
c. Interpret these statistical measures. Does it surprise you that an inverse relationship exists? (Round the final answer to the nearest
whole number.)
Weak negative (inverse) correlation between age of car and selling price. So,
explained by the variation in the age of the car
percent of the variation in the seling price is
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