Question

Chapter Three Exercises
Exercise 3.9
At a used dealership, let X be an independent variable representing the age in years of a motorcycle and Y be the dependent variable representing the selling price of used motorcycle. The data is now given to you.

X = {5, 10, 12, 14, 15}

Y = {500, 400, 300, 200, 100}

A.) Predict the selling price of a used motorcycle when the age is 11 years.
B.) Find a 95% confidence interval for E(y) when x = 11 years of age.
C.) Find a 95% prediction interval for y when x = 11 years of age.

Answer 1

Solution:

We can use the excel regression data analysis tool to find the regression equation.

A.) Predict the selling price of a used motorcycle when the age is 11 years.

B.) Find a 95% confidence interval for E(y) when x = 11 years of age.

to
C.) Find a 95% prediction interval for y when x = 11 years of age.

to