Use the following to answer the questions below:
Data were collected on the mileage (in thousands of miles) and price (in thousands of dollars) of a random sample of used Hyundai Elantras. A scatterplot of the data (with regression line) , some summary statistics, and partial computer output from a regression analysis are provided.
Use three decimal places when reporting the results from any calculations, unless otherwise specified.
-Use the following computer output to identify and interpret a 95% interval for the mean price of all used Hyundai Elantras with 30,000 miles.
Predicted Values for New Observations
A) We are 95% sure that the mean price of all used Hyundai Elantras with 30,000 miles is between $10,058 and $12,022.
B) We are 95% sure that the price of a single used Hyundai Elantra with 30,000 miles is between $7046 and $15,034.
C) We are 95% sure that the price of a single used Hyundai Elantras with 30,000 miles is between $10,058 and $12,022.
D) We are 95% sure that the mean price of all used Hyundai Elantras with 30,000 miles is between $7046 and $15,034.
Correct Answer:
Verified
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