Determining correlation and cause

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Reference no: EM1398116

Car dealership wants to study the relationship between the age of a car and the selling price. Below is a sample of 12 cars:

Car Age(years) Selling Price ($000)

1 9 8.1

2 7 6

3 11 3.6

4 12 4

5 8 5

6 7 10

7 8 7.6

8 11 8

9 10 8

10 12 6

11 6 8.6

12 6 8

A- If we want to estimate the selling price on the basis of age, which variable is the dependent and which is the independent?

B- Draw a scatter diagram.

C- Determine the coefficient of correlation.

D- Determine the coeffiecient of determination.

E- Interpet the measures. Does it suprise you that the relationship is inverse?

Reference no: EM1398116

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