You have to examine the relationship between the age and price for used instrument sold in the last year by a company. Here is the table of the data:     a. Determine the degree of relationship between in instument’s age and the price. b. Identify the equation of linear regression. c. How much will a used instrument worth after 6 years? 12 years? 15 years? d. Explain the predicting capability of the equation.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.6: Permutations
Problem 5E
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You have to examine the relationship between the age and price for used instrument sold in the last year by a company. Here is the table of the data:

 

 

a. Determine the degree of relationship between in instument’s age and the price.

b. Identify the equation of linear regression.

c. How much will a used instrument worth after 6 years? 12 years? 15 years?

d. Explain the predicting capability of the equation.

Used Instrument (in Year)
Price
4
315
4
290
285
5
225
7
225
210
8
205
9
155
10
105
4
300
3
309
Transcribed Image Text:Used Instrument (in Year) Price 4 315 4 290 285 5 225 7 225 210 8 205 9 155 10 105 4 300 3 309
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