Question:
A Sunday newspaper lists the 10 used car prices for a foreign compact, with age x measured in years and selling price y measured in thousands of dollars. A Sunday newspaper lists the 10 used car prices for a foreign compact, with age x measured in years and selling price y measured in thousands of dollars.
Picture of data can be found in the picture attached.
Answer:
Slope = -1.71
Intercept = 22.05
Step-by-step explanation:
Equation of a line usually takes the general form :
ŷ = mx + c
Where :
m = slope or gradient
c = intercept
Inputting the data into a linear regression calculator ;
The output is : ŷ = -1.70872X + 22.04985
Comparing the output to the general formula;
The slope (m):
m = -1.70872 = -1.71(2 decimal places).
The intercept (c):
c = 22.04985 = 22.05(2 decimal places).
