Question: following are age and price data for 8 randomly selected...
Question details
Following are age and price data for
8
randomly selected ambulances between 1 and 6 years old. Here, x denotes age, in years, and y denotes price, in hundreds of dollars. Use the information to complete parts (a) through (f).
x 
6 
1 
6 
2 
6 
2 
4 
5 


y 
280 
410 
255 
350 
250 
370 
335 
300 
a. Find the regression equation for the data points.
ModifyingAbove y with caretyequals=nothingplus+nothingx
(Round to two decimal places as needed.)
b. Graph the regression equation and the data points.
A.
080500AgePrice
A scatterplot has a horizontal axis labeled Age from 0 to 8 in increments of 2 and a vertical axis labeled Price from 0 to 500 in increments of 100. The following points are plotted: (1, 250); (2, 260); (2, 280); (4, 300); (5, 340); (6, 350); (6, 370); (6, 410). A line rises from left to right and passes through the points (0, 220) and (5, 350). The line comes close to all of the points in the scatterplot and passes above some of the points and below others. All coordinates are approximate.
B.
080500AgePrice
A scatterplot has a horizontal axis labeled Age from 0 to 8 in increments of 2 and a vertical axis labeled Price from 0 to 500 in increments of 100. The following points are plotted: (1, 280); (2, 300); (2, 340); (4, 350); (5, 280); (6, 260); (6, 340); (6, 280). A line rises from left to right and passes through the points (0, 300) and (5, 310). The line passes above some of the plotted points and below others. All coordinates are approximate.
C.
080500AgePrice
A scatterplot has a horizontal axis labeled Age from 0 to 8 in increments of 2 and a vertical axis labeled Price from 0 to 500 in increments of 100. The following points are plotted: (1, 410); (2, 350); (2, 370); (4, 340); (5, 300); (6, 280); (6, 260); (6, 250). A line falls from left to right and passes through the points (0, 430) and (5, 290). The line comes close to all of the points in the scatterplot and passes above some of the points and below others. All coordinates are approximate.
D.
080500AgePrice
A scatterplot has a horizontal axis labeled Age from 0 to 8 in increments of 2 and a vertical axis labeled Price from 0 to 500 in increments of 100. The following points are plotted: (1, 340); (2, 250); (2, 260); (4, 410); (5, 280); (6, 300); (6, 370); (6, 350). A line falls from left to right and passes through the points (0, 380) and (5, 320). The line passes above some of the plotted points and below others. All coordinates are approximate.
c. Describe the apparent relationship between the two variables.
A.
Price tends to decrease as age increases.
B.
Price remains constant as age increases.
C.
Price tends to increase as age increases.
D.
There is no apparent relationship between age and price.
d. Identify the predictor and response variables.
A.
The predictor variable is ambulance and the response variable is age.
B.
The predictor variable is price and the response variable is age.
C.
The predictor variable is age and the response variable is price.
D.
The predictor variable is ambulance and the response variables are age and price.
e. Identify outliers and potential influential observations.
A.
There are no outliers and no influential observations.
B.
There are one or more outliers and influential observations.
C.
There are no outliers and one influential observation.
D.
There is one outlier and no influential observations.
f. Predict the value of the response variable for a 3yearold ambulance.
The predicted price of a 3yearold ambulance is
$nothing.
(Round to the nearest hundred dollars as needed.)
Click to select your answer(s).