Answered

Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Find reliable answers to your questions from a wide community of knowledgeable experts on our user-friendly Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.

The following data includes the year, make, model, mileage (in thousands of miles) and asking price (in US dollars) for each of 13 used Honda Odyssey minivans. The data was collected from the Web site.

year make model mileage price
2004 Honda Odyssey EXL 20 26900
2004 Honda Odyssey EX 21 23000
2002 Honda Odyssey 33 17500
2002 Honda Odyssey 41 18999
2001 Honda Odyssey EX 43 17200
2001 Honda Odyssey EX 67 18995
2000 Honda Odyssey LX 46 13900

Required:
Compute the correlation between age (in years) and price for these minivans.

Sagot :

fichoh

Find complete data below :

Answer:

R = - 0.94

Step-by-step explanation:

Since data was collected in 2005 ; we subtract the data collection year from the make year to obtain the age :

Age (x) :

1,1, 3,3,4,4,5,5,5,5,6,7,10

Price (y) :

26900,23000,17500,18999,17200,18995,13900,15250,13200,11000,13900,8350,5800

Using technology, the correlation Coefficient between age of car and price is : - 0.94

With a correlation Coefficient of - 0.94, we can conclude that there exists a strong negative correlation between age and price of the Odyssey mini vans. This could be interpreted to mean that ; As the age of cars in increases, the price decreases

View image fichoh
Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.