Find the least-squares regression line for the data use

Reference no: EM13470335

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?

Reference no: EM13470335

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