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Vsevolod
1 month ago
4

A statistics student is studying if there is a relationship between the price of a used car and the number of miles it has been

driven. She collects data for 20 cars of the same model with different mileage, and determines each car’s price using a used car website. The analysis is given in the computer output.
Predictor Coef SE Coef t-ratio p
Constant 24157.2 2164.1 2.965 0.046
Mileage -0.181 0.024 5.377 0.000
S = 3860.7 R-Sq = 68.0% R-Sq(Adj) = 67.5%
Using the computer output, what is the equation of the least-squares regression line?

ŷ = –0.181 + 24157.2x
ŷ = 24157.2 – 0.181x
ŷ = 2164.1 + 0.024x
ŷ = 0.024 + 2164.1x

Mathematics
1 answer:
tester [12.3K]1 month ago
4 0
The answer is Choice B. To find the needed values, simply refer to the "coef" column. The constant represents the term free of any variables, while the mileage coefficient essentially indicates the slope of the relationship. You can think of it as price = constant + (mileage coefficient)*(mileage). The negative mileage coefficient suggests a negative correlation, indicating that as x (mileage) increases, y (price) decreases, which aligns with the expectation that a car's value will diminish as more miles are added.
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