Used cars 2011 Carmax.com lists numerous Toyota Corollas for sale within a 250 mile
Chapter 7, Problem 53(choose chapter or problem)
Used cars 2011 Carmax.com lists numerous Toyota Corollas for sale within a 250 mile radius of Redlands, CA. The table below shows the ages of the cars and the advertised prices. a) Make a scatterplot for these data. b) Describe the association between Age and Price of a used Corolla. c) Do you think a linear model is appropriate? d) Computer software says that R2 = 89.1,. What is the correlation between Age and Price? e) Explain the meaning of R2 in this context. f) Why doesnt this model explain 100% of the variability in the price of a used Corolla?
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