A used car dealer wants to develop a regression equation tha

A used car dealer wants to develop a regression equation that determines mileage as a function of the age of a car in years. He collects the data shown below for the 12 cars he has on his lot. Assignment 10q4 data What is the slope of the regression equation? Give your answer to two decimal places. What is the value of the correlation coefficient? Give your answer to two decimal places. A 4 year old car is delivered to his lot with 160000 miles. Manually enter these values in the data table above and rerun the regression analysis. What is the value of the slope? Give your answer to two decimal places. Including the additional car, what is the value of the correlation coefficient? Give your answer to two decimal places. Did the additional car strengthen or weaken the linear relationship between age and mileage O It weakened the linear relationship. It strengthened the linear relationship. Can not be determined.

Solution

The given data are,

Calculations are made in MS excel.