Levels Tought:
Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
Last Sign in: | 305 Weeks Ago, 1 Day Ago |
Questions Answered: | 66690 |
Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
New Car: Negotiating Price Suppose you are interested in buying a new Toyota Corolla. You are standing on the sales lot looking at a model with different options. The list price is on the vehicle. As a salesperson approaches, you wonder what the dealer invoice price is for this model with its options. The following data are based on information taken from Consumer Guide (Vol. 677). Let x be the list price (in thousands of dollars) for a random selection of Toyota Corollas of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle
x |
12.6 |
13 |
12.8 |
13.6 |
13.4 |
14.2 |
y |
11.6 |
12 |
11.5 |
12.2 |
12 |
12.8 |
(a) Verify that Σx = 79.6, Σy = 72.1, Σx2= 1057.76, Σy2= 867.49, Σxy = 957.84, and r ≈ 0.956.
(b) Use a 1% level of significance to test the claim that ρ > 0.
(c) Verify that Se ≈ 0.1527, a ≈ 1.965, and b ≈ 0.758.
(d) Find the predicted dealer invoice when the list price is x = 14(thousand dollars).
(e) Find an 85% confidence interval for y when x = 14 (thousand dollars).
(f) Use a 1% level of significance to test the claim that β > 0.
(g) Find a 95% confidence interval for b and interpret its meaning.
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll