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year Value ($) 0 1,500 1 1,1200 2 1,100 3 1,00 4 800 5 400 6 200
b. given that the equation of the regression line between value and year is y= -207.14x + 1507.14 with an R^2 value of 0.9622, how reliable do you think the regression equation is at predicting the future value of a computer in 5 years time?
c. calculate the value of the correlation coefficient between year and value
d. estimate the value of the computer in year 7, using the regression equation
Please confirm the values for
year = 0 as it is lower than after a year on, do you think a computer can appreciate?
year = 1 is the comma in the correct place? Should it be 1,200?
year = 3, should this be 1,000?
Did you find any t-stats or p-values?Quote:
Originally Posted by hollymxox
Quote:
Originally Posted by hollymxox
substitute x=7 into the equationQuote:
Originally Posted by hollymxox
Yes it is suppose to be going down past 0 and yes the numbers should be 1,200 and 1,000.
Is there any way can you show me the work or explain it a little better?
and I dont even know what t-stats or p-values are...