How well the least-squares line fits the data

Reference no: EM131767460

Question: Drive my car (3.2, 4.3)

(a) Explain what the value of r² tells you about how well the least-squares line fits the data.

(b) The mean age of the students' cars in the sample was x¯ = 8 years. Find the mean mileage of the cars in the sample. Show your work.

(d) Would it be reasonable to use the least-squares line to predict a car's mileage from its age for a Council High School teacher? Justify your answer.

Reference no: EM131767460

Questions Cloud

What is the equation of the least-squares regression line : One student reported that her 10-year-old car had 110,000 miles on it. Find and interpret the residual for this data value. Show your work.

Calculate the increase in company profits outside suppliers : Calculate the increase in company profits if Glenn Company accepts the outside suppliers offer.

Mastering communication is critical to successful leadership : Perhaps the most important thing a leader does is to communicate. Mastering communication is critical to successful leadership.

Briefly describe independent auditors concept of materiality : You need to prepare a memo (GA-5) addressing materiality for Apollo Shoes. Briefly describe independent auditors' concept of materiality

How well the least-squares line fits the data : Would it be reasonable to use the least-squares line to predict a car's mileage from its age for a Council High School teacher? Justify your answer.

Pricing decisions are different from domestic marketing : Why would you use the secondary information? Why global pricing decisions are different from domestic marketing?

Calculate the number of units of product c : Calculate the number of units of Product C that XYZ Company should produce inorder to maximize its net income.

Desired level of systematic risk : In order to come closest to achieving your desired level of systematic risk, what percentage in your 401(k) plan would you invest in the total stock market fund

How would you respond to jared helm request : The Eclipse Video Store Co. is owned and operated by Jared Helms. How would you respond to Jared Helm's request

User Account

All Pages