Scribd
Upload
429 views3 pages

Miles (1,000s) Price ($1,000s) : Toyota Camry Scatter Chart

The Toyota Camry is one of the best-selling cars in North America. Data on mileage and sales price for 19 used Camrys showed a negative linear relationship between miles and price. A regression analysis estimated the equation price = 16.46975503 - 0.058773932 * miles, indicating that price decreases by about $0.06 for every additional 1,000 miles.

Uploaded by

Lianne Claire San Jose
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
429 views3 pages

Miles (1,000s) Price ($1,000s) : Toyota Camry Scatter Chart

The Toyota Camry is one of the best-selling cars in North America. Data on mileage and sales price for 19 used Camrys showed a negative linear relationship between miles and price. A regression analysis estimated the equation price = 16.46975503 - 0.058773932 * miles, indicating that price decreases by about $0.06 for every additional 1,000 miles.

Uploaded by

Lianne Claire San Jose
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 3

The Toyota Camry is one of the best-selling cars in North America.

The cost of a previously owned Camry dep


mileage, and condition. To investigate the relationship between the car’s mileage and the sales price for Cam
price for 19 sales (PriceHub web site, February 24, 2012).

Miles (1,000s) Price ($1,000s)


22 16.2 a. Develop a scatter chart for these data with miles as the inde
29 16 scatter chart indicate about the relationship between price an
36 13.8
47 11.5
63 12.5 Toyota Camry Scatter Chart
77 12.9 18
73 11.2 16
87 13 14
92 11.8 12

Price ($1,000s)
101 10.8 10
110 8.3 8
28 12.5 6
59 11.1 4
68 15 2
68 12.2 0
0 20 40 60 80
91 13
Miles (1,000s)
42 15.6
65 12.7
110 8.3 b. Develop an estimated regression equation showing how pri
estimated regression model?

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.73393282868
R Square 0.53865739701
Adjusted R Square 0.51151959683
Standard Error 1.5413769786
Observations 19

ANOVA
df
Regression 1
Residual 17
Total 18

Coefficients
Intercept 16.4697550331
X Variable 1 -0.0587739319
of a previously owned Camry depends on many factors, including the model year,
mileage and the sales price for Camrys, the following data show the mileage and sale

or these data with miles as the independent variable. What does the
the relationship between price and miles?

oyota Camry Scatter Chart


The scatter chart indicates that there may be a
negative linear relationship betweeb miles and
price.

40 60 80 100 120
Miles (1,000s)

gression equation showing how price is related to miles. What is the


?

y = 16.46975503 + -0.058773932 (x)

SS MS F Significance F
47.1580375885 47.1580375885 19.848970569 0.00034751105
40.3893308325 2.37584299015
87.5473684211

Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0%
0.94876415329 17.3591666338 2.986768E-12 14.4680376428 18.47147242341 14.468037642821
0.01319215518 -4.45521835259 0.000347511 -0.0866069464 -0.030940917373 -0.0866069463959
e may be a
miles and

Upper 95.0%
18.47147242341
-0.03094091737

You might also like