Questions: 34.2 25.8 29.5 28.4 26.8 29.9 22.8 30.7 37.5 22.7 20.8 30.8 24.7 26.9 23.7 28.0 15.6 33.6 25.7 27.2 27.7 25.8 23.4 34.1 28.2 29.2 21.1 31.1 24.2 30.0 Send data to calculator Send data to Excel Based on the sample data and the regression line, complete the following. (a) For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are (Choose one) D the mean of the used selling prices. (b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?

34.2 25.8 29.5 28.4 26.8 29.9 22.8 30.7 37.5 22.7 20.8 30.8 24.7 26.9 23.7 28.0 15.6 33.6 25.7 27.2 27.7 25.8 23.4 34.1 28.2 29.2 21.1 31.1 24.2 30.0 Send data to calculator Send data to Excel Based on the sample data and the regression line, complete the following. (a) For these data, mileages that are less than the mean of the mileages tend to be paired with used selling prices that are (Choose one) D the mean of the used selling prices. (b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?
Transcript text: \begin{tabular}{|c|c|} \hline 34.2 & 25.8 \\ \hline 29.5 & 28.4 \\ \hline 26.8 & 29.9 \\ \hline 22.8 & 30.7 \\ \hline 37.5 & 22.7 \\ \hline 20.8 & 30.8 \\ \hline 24.7 & 26.9 \\ \hline 23.7 & 28.0 \\ \hline 15.6 & 33.6 \\ \hline 25.7 & 27.2 \\ \hline 27.7 & 25.8 \\ \hline 23.4 & 34.1 \\ \hline 28.2 & 29.2 \\ \hline 21.1 & 31.1 \\ \hline 24.2 & 30.0 \\ \hline \end{tabular} Send data to calculator Send data to Excel Based on the sample data and the regression line, complete the following. (a) For these data, mileages that are less than the mean of the mileages tend to be paired with used selling" prices that are (Choose one) D the mean of the used selling prices. (b) According to the regression equation, for an increase of one thousand miles in Cadet mileage, there is a corresponding decrease of how many thousand dollars in the used selling price?
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Solution

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Solution Steps

Step 1: Calculate the mean mileage.

The mileages are 34.2, 29.5, 26.8, 22.8, 37.5, 20.8, 24.7, 23.7, 15.6, 25.7, 27.7, 23.4, 28.2, 21.1, and 24.2. The sum of these values is 381.9. The number of values is 15. So the mean mileage is 381.9 / 15 = 25.46.

Step 2: Compare used selling prices for mileages less than the mean mileage.

Mileages less than 25.46 are 22.8, 20.8, 24.7, 23.7, 15.6, 25.7, 23.4, 21.1, 24.2. Their corresponding used selling prices are 30.7, 30.8, 26.9, 28.0, 33.6, 27.2, 34.1, 31.1, 30.0. These values tend to be greater than most of the other used selling prices.

Step 3: Determine the decrease in used selling price per thousand mile increase.

The regression line goes approximately through the points (20, 33) and (40, 23). The slope of this line is (23 - 33) / (40 - 20) = -10 / 20 = -0.5. This means that for every thousand mile increase in mileage, there is a 0.5 thousand dollar decrease in the used selling price.

Final Answer:

(a) greater than

(b) 0.5

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