Regression

Assignment 1
Instructions  

Regression

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The table gives the retail value of a 2004 Corvette Z06 and the miles driven. (Source: Kelly Blue Book website, November 3, 2004) 

Mileage Retail Value 
13,000 $46,100 
18,000 $44,600 
20,000 $43,300 
25,000 $41,975 
29,000 $40,975 
32,000 $39,750 

1. Find the correlation coefficient for the data.
2. What is the significance of this value of the correlation coefficient?
3. What is the least-squares regression line for the data?
4. Use the least-squares line to predict the retail value of the model car with a mileage of 30,000.

5. Use the least-squares line to predict the retail value of the model car with 30,000 miles.

6. What is the retail value of a model car with 35,000 miles?

 

Assignment 2

The table gives the retail value of a 2004 Corvette Z06 and the miles driven. (Source: Kelly Blue Book website, November 3, 2004)

Mileage

Retail Value

13,000

$46,100

18,000

$44,600

20,000

$43,300

25,000

$41,975

29,000

$40,975

32,000

$39,750

 

1. Find the correlation coefficient for the data.
2. What is the significance of this value of the correlation coefficient?
3. What is the least-squares regression line for the data?
4. Use the least-squares line to predict the retail value of the model car with a mileage of 30,000.

5. What is the retail value of a model car with a mileage of 35,000?

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