Question

The table shows the mileages x (in thousands of miles) and the selling prices y (in thousands of dollars) of several used automobiles of the same year and model.
Mileage, x: 22 14 18 30 8 24
Price, y: 16 17 17 14 18 15
a.) Use a graphing calculator to find the equation of the line of best fit. Round the slope to the nearest tenth and y-intercept to the nearest integer.
y=
b.) Identify the correlation coefficient. Round to the nearest thousandth.
r=
Interpret the correlation coefficient.
the data show a ___ ___ correlation.
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Answer 1

Answer:

ŷ = -0.18363X + 19.71681

-0.9685

Step-by-step explanation:

Given the data:

Mileage, x: 22 14 18 30 8 24

Price, y: 16 17 17 14 18 15

Using the online regression calculator :

The regression equation obtained is :

ŷ = -0.18363X + 19.71681

Where ;

y = predicted variable

- 0.18363 = slope or gradient

X = predictor variable

19.71681 = intercept

The correlation Coefficient R = -0.9685

This signifies a strong negative relationship between the x and y variable.