Question

Use the following to answer problems 10-11

Answer 1

A linear regression is represented as: $^\wedge y = a + bx$ Where: $b \to slope$.

• The interpretation of the slope is: For every 1 mile increase in car mileage, there is a $0.0534 decrease in the car price.
• The correlation coefficient is $0.9182$

(a) Interpret the slope

The linear model is given as:

$^\wedge y = 24356.15 - 0.0534x$

Recall that:

$b \to slope$

By comparison:

$b = -0.0534$

From the question, we understand that:

$x \to mileage$

$y \to price$

So, the interpretation of the slope is:

For every 1 mile increase in car mileage, there is a $0.0534 decrease in the car price

(b) The correlation coefficient (r)

We have:

$r^2 = 84.3\%$

Take square roots of both sides

$r = \sqrt{84.3\%$

$r = 0.9182$

Hence, the correlation coefficient is $0.9182$

Read more about linear regressions at:

brainly.com/question/18405415