Use the following to answer the questions below:
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.
Use three decimal places when reporting the results from any calculations, unless otherwise specified.
The regression equation is Price = 15.3 - 1.71 Age

-Use the scatterplot to determine whether we should have any serious concerns about the conditions being met for using a linear model with these data.

Question

Use the following to answer the questions below:
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.
Use three decimal places when reporting the results from any calculations, unless otherwise specified.
The regression equation is Price = 15.3 - 1.71 Age
 
-Use the scatterplot to determine whether we should have any serious concerns about the conditions being met for using a linear model with these data.

Quizplus · Accepted Answer

There are no concerns. There is no curved pattern, no fanning pattern, and no outliers.

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