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Eleven cars of a certain model between one and seven years of age were randomly selected from the classified ads The following summary statistics on their ages x in years and prices

Eleven cars of a certain model, between one and seven years of age, were randomly selected from the classified ads. The following summary statistics on their ages (x in years) and prices (y in 1000 dollars) were used to obtain the regression equation y$ = $ ß0 + $ ß1 x = 19.8 ñ 1.56x. 39. [4.2.2] Which of the following statements is correct? (A) The price will increase by $1560 for every 1-year increase in age. (B) The price will decrease by $1560 for every 1-year decrease in age. (C) The relationship between price and age is positive. (D) The price for a car with 0 year of age is $19800. (E) None of the above

Jun 22 2020 View more View Less

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